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

[johns1124]

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

Early data published by the IRS indicates the average tax refund is worth about $1,395 so far this year, a sharp drop from the 2023 filing season.

www.foxbusiness.com

"The average tax refund is 29% smaller this year, according to early IRS data"

"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."

 

[herdfan06]

There is an easy way too ensure you receive a large refund every year.

 

[GeauxHerd]

There is an easy way too ensure you receive a large refund every year.

Stop working?

 

[herdfan06]

Stop working?

That could work (no pun).

 

[WV-FAN]

Tax rates are exactly the same from 22 to 23. Income threshold levels increased from 22 to 23. Standard deduction increased from 22 to 23.

Lower refunds are a result of lower withholding.

 

[GeauxHerd]

Tax rates are exactly the same from 22 to 23. Income threshold levels increased from 22 to 23. Standard deduction increased from 22 to 23.

Lower refunds are a result of lower withholding.

Lower withholding because of having to pay extra for Bidenomics

 

[30CAT]

What bleaters thought Pedo-Joe and the gang, were not going to raise taxes on everyone?

 

[GeauxHerd]

What bleaters thought Pedo-Joe and the gang, were not going to raise taxes on everyone?

You got that right Tidy Cat. They were blinded into thinking of stopping 3 am mean tweets was their ultimate goal. Now the sheep are paying the price. Literally.

 

[i am herdman]

Our friend rifle, who is wounded at the moment, got $27,000 back. I think he uses Turbo Tax and he must get some kind of Earned Income Credit. He knew his refund early as well. Good endorsement for Turbo Tax. I wonder if he got that as one of those advances of whatever. His refund is bigger than those no good mooching bloodsucking relatives of mine. That bum off everybody, work half the time, take, take, and take some more and the govt will send them like 7 grand back.

 

[30CAT]

I think residents of Blue, sanctuary cities, who didn't vote Democrat, should be allowed to claim illegal foreign nationals as dependents.