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How's the lesser tax refund working for you?

who's talking here?

I_won't_tell 1
Let Logic Prevail 1
sdanielmcev 1
DVaz 1
OrdinaryGuy 5
KwMillennial 1

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Let Logic Prevail --- 68 days ago -

Average tax refunds were down last week 8.4 percent for the first week of the tax season over the same time last year, according to the Internal Revenue Service. Dipping refunds are inflaming a growing army of taxpayers stunned by the consequences of the Trump administration’s tax law — and the effects of the partial government shutdown.

The average refund check paid out so far has been $1,865, down from $2,035 at the same point in 2018, according to IRS data. Low-income taxpayers often file early to pocket the money as soon as possible. Many taxpayers count on the refunds to make important payments, or spend the money on things like home repairs, a vacation or a car.

The IRS had estimated it would issue about 2.3 percent fewer refunds this year as a result of the changes in the federal tax law, according to Bloomberg. MSNBC reports that 30 million Americans will owe the IRS money this year — 3 million more than before Trump’s tax law.

“There are going to be a lot of unhappy people over the next month,” Edward Karl of the American Institute of CPAs told Politico. “Taxpayers want a large refund.” Some 71 percent of taxpayers received refunds last year worth about $3,000 on average, according to Karl.

Scads of taxpayers are complaining on Twitter that they have always received a refund — but now owe the IRS instead.

The number of refunds sent out by the IRS was also down — about 24 percent — as the agency struggled to get up to speed after the government shutdown. The agency sent out about 4.67 million tax refunds in the week ending Feb. 1, compared with about 6.17 million in the same period in 2018, according to IRS data.

This year’s filing season, which began two days after the shutdown ended on Jan. 25, is complicated because it’s the first after the 2017 tax law was enacted. Though President Donald Trump boasted that the new code would be so simplified that people could file their taxes on a postcard, that’s not the case.

In addition, the changes complicated payroll withholding, so that not enough money was withheld by employers in many cases, meaning that people now owe more taxes. The new law also capped IRS deductions for paid state and local taxes, including real estate taxes, resulting in a nasty surprise for many filers. Several other deductions are no longer allowed.

The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.

Twitter is filling up with complaints from people whose situation has changed radically. 

OrdinaryGuy --- 68 days ago -

I guess the fact you paid in less taxes doesn't make any difference to you. BTW...since you paid in less taxes you get less back. Personally, I don't like giving the gov't an interest free loan.


The frustrations will likely continue to fuel support for plans to boost taxes on the ultra-wealthy. A poll last month found that nearly 60 percent of registered voters support a plan by Rep. Alexandria Ocasio-Cortez to impose a 70 percent marginal tax rate on the portion of annual income that exceeds $10 million a year.

Please explain to me how raising the taxes on the rich is going to give you a bigger tax refund.


BTW...I believe people who give the gov't extra money to get a bigger tax refund don't have the ability to save money on their own. Somebody (the gov't) has to do it for them.

I can solve your problem. If you want to get a bigger tax refund just give them more money and you will get a bigger tax refund. 

OrdinaryGuy --- 68 days ago -

It's not about refunds it's about the fact that the majority of Americans tax bills did not go down as promised. All hot fn air.

Where is your proof of this? Or is just your opinion that you state like it is fact?

Actually, I made more money in 2018 than I did in 2017 and my tax liability went down. My refund was almost double what it was in 2017. PS...I don't itemize. I take the standard deduction. 

KwMillennial --- 67 days ago -

I don’t understand what the problem is. Yes, my refund is lower this year, but I paid less taxes.

I feel stupid for even getting a refund of any kind. My goal is to owe taxes every year. One of these days I’ll figure it out.

The OP seems like he/she is gullible enough to be fooled by an anti-Trump article. Some journalist figured out how to make a good thing sound bad. 

OrdinaryGuy --- 67 days ago -

I don’t understand what the problem is. Yes, my refund is lower this year, but I paid less taxes.

It was easy to figure out wasn't it?

The OP seems like he/she is gullible enough to be fooled by an anti-Trump article. Some journalist figured out how to make a good thing sound bad.

That's how the media is these days. There are a few people on here who always believe what they are told by the biased media. It seems they never learn. 

sdanielmcev --- 67 days ago -

The great American pastime, complaining about taxes. 

OrdinaryGuy --- 66 days ago -

Even when they pay less taxes. 

I_won't_tell --- 65 days ago -

Do you like giving interest free loans?

If no and unless there was upset in your finances....

if you are getting a refund

you didn't do a very good job of managing your finances.
 

DVaz --- 65 days ago -

Under President Trump many have less taken out of each paycheck so get a lower return. Socialist propaganda media has fooled the simple and closed minded yet again. 

OrdinaryGuy --- 65 days ago -

Under President Trump many have less taken out of each paycheck so get a lower return. Socialist propaganda media has fooled the simple and closed minded yet again. 

Yes, they did. You pay less in so you get less back. I actually made more money this year than last year but I paid less taxes.

DVaz, the one thing you are forgetting is the people complaining about lower refunds this year really don't have the capability to save money. They would rather give more money to the gov't as an interest free loan and then get a bigger refund. 

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