Average Tax Refunds Down 8.4 Percent As Angry Taxpayers Vent On Twitter
"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".
http://www.yahoo.com/news/average-tax-refunds-down-8-054836423.html
It's hard for me to believe that some people didn't see this coming almost 3 years ago. This is what tax breaks for the upper 1% get us.
If the morons would look at how much tax they paid in last year compared to the year before out of their pay checks they would understand. The tax cut took less money out every pay check, clearly they blew thru that money they were getting and no they are disappointed because they already spent it. I'm sure people are not considering the increase in the child tax credit either. It went from $1000 to $2000 per child under 17, and now you can get $500 for any other dependents. Yes that is correct, the government gives you $34,000 for having a child besides paying for there k-12 education which is about another $150,000. So these poor families with 6 kids that claim they can't afford to feed their kids get a lot more than they ever appreciate. Why don't we make things fare and do away with income tax and have every living human in the US pay $5000 a year. Then every one would be equal, because that's what people want right? To be treated equal? Oh that's right they are greedy and jealous and want to take from the rich and not pay their share.