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|For the first week of this year's tax season, average refunds were down 8.4%, with the average refund check being $1,865 (as opposed to last year's $2,035). Many taxpayers count on the refund to make important payments on things such as home repairs, cars, and more. |
In result of the changes of the federal tax law, the IRS estimated that it would issue about 2.3% fewer refunds this year. There is also an estimate that 30 million Americans will owe the IRS money this year, which is 3 million more than before Trump's tax law was issued.
Many taxpayers are complaining that they always receive refunds, but now owe the IRS money this year instead.
Want to know more? Read the full article at Yahoo.
What do you think about the changes for this year's tax refunds? Let us know in the comments!