Author Topic: Tax refunds are much smaller so far this year, IRS saysTax refunds are much smaller so far this year  (Read 382 times)

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Offline libertybele

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...hmmm.... not good  **nononono*

Tax refunds are much smaller so far this year, IRS says

Tax refunds so far this year are noticeably smaller than they were at the same time last year, according to early data published by the IRS.

The average refund check so far this year is worth $1,395 as of Feb. 2, about 29% lower compared to the $1,963 average recorded last year. That is based on nearly 2.6 million tax refunds collectively worth about $3.65 billion.

However, the IRS has cautioned taxpayers the average refund amount will likely change in the coming months as more returns are processed.

Americans who expect to receive the earned income tax credit, a tax break for low- to moderate-income workers, or the child tax credit cannot legally receive their refund before mid-February, which could also be distorting the picture.

The decrease in refund size can be concerning to millions of Americans who depend on the influx of money from Uncle Sam to make major purchases, save for retirement or pay off debt. On top of that, millions of taxpayers are still struggling with high inflation, which has sent the cost of staples like food and rent soaring higher.............
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline rustynail

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New and used car dealers count on this money.

Offline Smokin Joe

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  • I was a "conspiracy theorist". Now I'm just right.
New and used car dealers count on this money.
They way car prices have soared, it isn't going to be enough.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis