IRS responds to outrage over smaller tax refunds
IRS responds to outrage over smaller tax refunds Been growing anger over his drinking tax refund if the first taxi this is President Trump’s new plan went into effect and people are flocking to social media to complain or not getting back as much money as last year. Rebecca Jarvis is here with more Rebecca set morning. Michael guys get to see you yet most look forward to that refund checks. I’M even rely on it, but so far this year, many of those who receive tax refunds in the past aren’t getting them and some are even having to pay extra. According to the eye. The average refund is down more than 8 % about $ 170 from last year. The government shutdown also d’Alene some filings with the total number of returns down 12.4 % from last year in the first official week of tax season, Eva superset, who works at a nonprofit, says she owes on this year’s tax returns for past years, and I get about A thousand I just don’t have a refund to pay on social media. Thousands are using hashtags tax scam and never owed before one woman writing on Twitter. I always got a small refund $ 300. This yeah tax scam, the treasury Department firing back calling the reports. Misleading riding refunds are consistent with 2017 levels and down slightly from 2018, based on a small initial sample from only a few days, data. Okay. So what explains the smaller refunds this year? According to the tax policy Center, most Americans about 80 % did get a tax cut in 2018, but those savings showed up in paychecks because the IRS changed its withholdings this year. Okay, the reality check: 80 % of Americans receive the tax cut yr refund smaller each week. That would be about $ 1,000 more over the course of a year, instead of seeing it in the refund check. You got it in the paycheck, but you might not have noticed that along the way. George Stephanopoulos, thanks for checking out the ABC News, YouTube channel, you like to get more videos, show, highlights and watch live event coverage click on the right over here to subscribe to our Channel and don’t forget to download the ABC News app for breaking news alerts. Thanks for watching The average refund is down 8.4 percent, or about $170, from last year, but about 80 percent of Americans received a tax cut and savings showed up in paychecks, according to the agency.
SUBSCRIBE to ABC NEWS: https://www.youtube.com/ABCNews/
Watch More on http://abcnews.go.com/
LIKE ABC News on FACEBOOK
FOLLOW ABC News on TWITTER:
Tweets by ABC
GOOD MORNING AMERICA’S HOMEPAGE: