Lower tax refunds? Are they a problem?
Posted: Fri 08 Feb 2019, 22:38:00
I'm seeing articles out there where the media is crowing about this years tax refunds being lower then last years. The point they are trying to push is that the GOP/Trump tax cut was a bad deal. But was it really? Looking at the recently released IRS data shows the early refunds are only eight percent lower then the previous year. Not much of a change and would mean tax payers have lent less to the government interest free over the last year. If they changed the withholding tables correctly and only withheld what you actually owed that is a good thing. Isn't it?
Of course the full story won't be known until tax season is over and added up. People that got refunds last year and owe this year wont file until April and visa versa so the total change can't be added up month to month which makes the stories they are filing now quite silly but that has never stopped them before.
https://www.wsj.com/articles/early-data ... 1549653138
Of course the full story won't be known until tax season is over and added up. People that got refunds last year and owe this year wont file until April and visa versa so the total change can't be added up month to month which makes the stories they are filing now quite silly but that has never stopped them before.
https://www.wsj.com/articles/early-data ... 1549653138