Average tax refund down 8.7 per cent from year ago

Average tax refund down 8.7 per cent from year ago

The average US tax refund under President Trump’s tax overhaul is down nearly 9 per cent so far in this year’s tax filing season. Data covering the first 12 days of the new tax season showed an average refund of $1,949 for the 2018 tax year as compared to the $2,135 average from a year earlier. The total dollar amount of tax refunds was down more than 23 per cent at $22.2 billion.

KCooper
KCooper
ReWired Ramen
ReWired Ramen 1 year

...because the average tax collected is also lower?

U WOT M8
U WOT M8 1 year

So the IRS withholding schedules are more accurate? The refund means nothing, what matters is how much the federal government is stealing in the first place.

MerryMe
MerryMe 1 year

Because keeping more week to week is a bad thing? People are so conditioned for that large chunk of money (with too many getting more than they pay in) and have no capacity to plan. Time for the fair tax - tax people (legal and illegal visitors, too!) based on what they spend vs. income tax.

FoodNotBombs
FoodNotBombs 1 year

the 1% needs it more than we do guys , they really need a 10th yacht for those Italian getaways

Turn N Burn
Turn N Burn 1 year

Yes, it's thanks to that "Affordable" Care Act! It has put me in debt to the IRS two years running, now!

Miles O'Brien
Miles O'Brien 1 year

Amazon pays less while citizens pay more? MAGA!!!!

Michael Tatom
Michael Tatom 1 year

Just like men are paid more than women—there are extenuating circumstances to be considered.

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