https://www.politico.com/story/2019/02/08/average-tax-refund-down-1158440The average tax refund from the IRS dropped 8.4 percent in the first week of the 2019 filing season compared to the same period last year, according to agency statistics.The dip, to $1,865 from $2,035, is an early barometer of the season, which is being watched more closely than usual because it reflects the first full year under the 2017 tax overhaul and comes on the heels of a protracted government shutdown that hit the IRS just as it was gearing up for the annual exercise.The number of individual tax returns received and processed by the IRS also fell sharply year over year, by 12.4 percent and 25.8 percent, respectively. The data for this year cover Jan. 28 to Feb. 1, matched against Jan. 29 to Feb. 2, 2018.The data reflect only one week of filing in a process that will last until April 15 for most taxpayers, and refund predictions by tax experts have been all over the map. Morgan Stanley has estimated they will rise by 26 percent, but others are less optimistic.“There are going to be a lot of unhappy people over the next month,” said Edward Karl, vice president of taxation for the American Institute of CPAs. “Taxpayers want a large refund."
>>354019Some 71 percent of taxpayers received refunds last year worth about $3,000 on average, Karl said, which represents the single largest financial transaction for the bulk of those people in a given year.The size and number of refunds will be politically sensitive this year in particular. Democrats, who uniformly opposed the GOP-drafted Tax Cuts and Jobs Act, say more people will owe the IRS this year because of confusion about withholding. But House Ways and Means Committee ranking member Kevin Brady (R-Texas), an architect of the plan, has predicted that the number of taxpayers getting refunds will be around the same as in previous years.A statement from the IRS stressed the early nature of this year's statistics.“IRS systems are operating smoothly to start the filing season, and refunds are being issued,” the statement added. “The IRS encourages taxpayers to e-file as the quickest way to receive their refunds."Various factors could have played a part in the filing decrease so far, including the federal government shutdown that ended just three days before filing season opened Jan. 28. The IRS had recalled previously furloughed workers during the closure to prepare, but thousands didn’t return when summoned and a backlog was expected to greet them when they did.In addition, continued taxpayer uncertainty about the tax law changes that took effect last year was expected to prompt many to take longer than usual to file this year and maybe even prompt more filing extension requests than normal.
tl;dr Trump fucked over everyone who wasn't his buttfucking friends.
>>354025Republicans fucked everyone over who wasn't a donor, don't blame Trump when he didn't write the fucking legislation.
>>354033Trump still passed it and as such is complicit in fucking everyone over.
>>354035>Republican leader can't take responsibility for his party's actionshes either weak or stupid. which do you prefer
>>354019>tax refundYou're not supposed to get any tax refund. You get them because you overpay....That's why it's a refund. If people are not overpaying, why is this the governments fault?Yes, I only read the headline.
>>354019>>354020>pay less taxes>get less taxes refundedDoh
>>354050The "tax cut" fucked with state taxes and effectively increased taxes on everyone in NY and CA.Because the Trump administration is incompetent, they wanted instant gratification by giving people MORE WAGES from their tax cut and decreased withholding.Turns out they suck at math and now everyone owes the government money, even if they didn't live in CA/NY.
>>354056>>354050...no.People pay a standard withholding rate, usually 10% or something High, so they get a refund. I was advised not to change mine by my tax advisor (incidentally you can write off the cost of visiting one so it's a really good idea for making your filing easier).People are withholding the same amount and getting less back, which means they're paying more taxes.
>>354025>>354035>>354066How do I get paid to shill?Asking for a friend
>People trying to defend the drop in people getting money back because of the Republican tax cuts to the rich that Trump pushed.
NY homeowner here, just dropping in to let everyone know I paid ~2.5k less on federal income tax over the year but I will be getting the same refund as 2018.
>>354019doesnt bother me. mines up about 4x and sitting at about 175% of the average i guess
>>354226im in ca here: >>354229
>>354019when you take into consideration that unemployment is the lowest its been in 50 years i would wager this is due to people having a job all year long.if you only had a job for a few months in 2017 then you will get a large refund because you were charged taxes for a tax bracket you are not actually in
>>354066>The "tax cut" fucked with state taxes and effectively increased taxes on everyone in NY and CA.funny because i live in CA and i got a much larger tax return than last year and nothing changed
My refund pretty much tripled, but I think that's because I made more money this year.
Having a big refund is a bad thing. It means you gave the government a tax free loan because you're too lazy and stupid to adjust your W-2
>>354019I had to pay less than last year, and I made more money.
SOMEONE'S GOTTA PAY FO SHANIQUA'S 5 BABIES
>>354247>Having a big refund is a bad thingWow, with enough time and energy into cognitive dissonance anybody can make up anything believe this.
>>354259you really dont understand taxes, do you?for people who arent getting free money from the government getting a tax return means exactly what he said: "It means you gave the government a tax free loan because you're too lazy and stupid to adjust your W-2"
>>354252I work for the government, so kinda.
>>354019> Breaking news, Americans are too stupid to compare this years and last year's returns to see if they paid more or less.Or I prefer> Americans complain about not giving the government larger interest free loans for a year.
>>354019I paid 1/4 the amount this year that I payed in Federal taxes last year. Child tax credit increase is fantastic.>>354259Damn you are dumb.
>>354019Mission successful, more wealth transfer next time kiddos at another day of Jesus is returning back through politician saint of people story time.
>>354322>Child tax credit increase is fantastic.yeah i dont have kids but I read there was a huge increase to it
all this means though is that peoples w2's were more accurate. or possibly they were employed all year rather than just partially>>354369>at another day of Jesus is returning back through politician saint of people story time.ivan make sentence unable to readable
>>354392Lol, that shit isn't even enough to cover your average America's cost of a 100% normal childbirth.If your kids fucked up in any way welcome to bankruptcy.
democrat racketeering took my return from a 500$ refund to having to pay an extra 200$;that's still not as bad as if I'd payed 2000$ for my employer's scam insurance that covered less than 20% (80% coinsurance = 20% coverage, then copays and such take it to less than 20% coverage)https://www.healthcare.gov/glossary/co-insurance/
>>354239That funny because I also live in CA and I got fucking shafted since I work out of my home.
>>354604But the tax bill was passed by Republicans
>>354621maybe you suck at doing taxes or itemizing deductions.or also maybe you are a 1099 and just made more this year, and owe more in taxes
>>354621Salt deduction caps suck when the state is fucking you up the ass and the fed takes your mouth.
>>354849Unless he is referring to the penalties for not having health insurance, not clearly written to begin with.
>>354392Doubled to 2000/kid>>354466Don't be such a poor fag and plan a family. The poor have no trouble reproducing here, the state eats the bill and then the costs of incarceration.
>>354864>The poor have no trouble reproducing here, the state eats the bill and then the costs of incarceration.I live in CA and ive known poor people who have kids for the sole purpose of generating income.knew a guy that didnt want to work, neither did his gf, so they decided to get her pregnant for the yearly tax money.if you want to be a leech on society its extremely easy in some places and there leaves little incentive to actually work
>1 week into a months long process>PANICTake a breath guys. Lets see what it looks like when all the data is in
>>354239That's funny because I live in California made almost the exact same amount and got back $400 less.
>all these californians thinking the rest of us should subsidize their state's bullshit taxesCapping SALT deductions was the best part of the legislation.
>>354958Your either lying, dumb or you fucked up on taxes because the federal deduction is nearly double and almost all tax brackets are 1-3 lowerhttps://www.kdpllp.com/2017-vs-2018-federal-income-tax-brackets/
>>354961>the federal deduction is nearly double and almost all tax brackets are 1-3 lowerThe standard deduction increased from $6350 to $12000 but the personal exemption of $4050 was taken away, so it's really only an increase of $1900 rather than $5650. If you have children your overall deduction actually goes down instead of up.
This is the fault of Trump and the Republicans playing politics with taxes where they pressured the IRS to have people's paychecks increase right before the election. https://www.politico.com/story/2018/01/10/tax-reform-paychecks-irs-332183But now it has the predictable end where it looks like Trump raised taxes on people.http://nymag.com/intelligencer/2019/02/heres-why-your-tax-refund-is-lower-this-year.htmlThoughts and prayers to those Trump voters.
https://twitter.com/smarxist_/status/1092342448397922304/photo/1Delicious Trumpfag tears as they realized they were fooled by Don the con.
Hey idiots!!!! If you pay less in taxes, you get less of a refund!!! How fucking stupid can you be?
>>354849>>354861yes, referring to the insurance racketeering, it is racketeering because they are trying to force us to pay into a scam that pretty much doesn't cover anything. the protection from that type of fraud passed by the republicans doesn't kick in till next year. wish someone would do a class action against the DNC to reimburse everyone for any penalties paid to date