Millions of taxpayers could be stunned by smaller refunds

Millions of Americans filling out their 2018 taxes will probably be surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service after years of receiving refunds, The Washington Post reports. 

People have already taken to social media to vent their anger, with many blaming President Trump and the Republicans for shrinking refunds—and the frustration isn’t coming only from Democrats.

The uproar follows the passage of a major overhaul to the tax code in December 2017, which was enacted with only Republican votes and is considered the biggest legislative achievement of Trump’s first year. While the vast majority of Americans received a tax cut in 2018, refunds are a different matter. Some refunds have decreased because of changes in the law, such as a new limit on property and local income tax deductions, and some have decreased because of how the IRS has altered withholding in paychecks.

The average tax refund check is down 8% ($170) this year compared to last, the IRS reported Friday, and the number of people receiving a refund so far has dropped by almost a quarter. Read the full story.  

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