Tax refunds down $6 BILLION, tax breaks for billionaires up $7 BILLION.
 

Steal from the poor and give to the billionaires the Trump supporter way.

And this is only so far this year not counting those who have to pay snd haven't filed yet or those who owe so much they filed for an extension.

"That shrinking pot of money is showing up in surprising ways, including through lower retail sales. Many families use refunds as a forced saving mechanism, as their IRS refund is often largest single check they receive all year. In the weeks after receiving a refund, families tend to splurge on large purchases such as furniture or appliances; credit-card payments and travel, a JPMorgan Chase study found."

Tax refunds so far this year are down by $6 billion from 2018

Individual tax refunds this year have been only slightly smaller than last year, but those shortfalls are adding up. At the end of last month, the amount of money the government refunded was $6 billion below this time last year, according to IRS figures.

As of March 29, the Treasury had issued 71.8 million refunds. This time a year ago it had issued 73.4 million. So while the average refund, at $2,873, is only $20 less than it was last year, about 1.6 million fewer people are getting refunds, the IRS said.

That shrinking pot of money is showing up in surprising ways, including through lower retail sales. Many families use refunds as a forced saving mechanism, as their IRS refund is often largest single check they receive all year. In the weeks after receiving a refund, families tend to splurge on large purchases such as furniture or appliances; credit-card payments and travel, a JPMorgan Chase study found.

Lower refunds don't mean Americans paid more taxes—quite the opposite. Most workers paid less in taxes last year and saw higher take-home pay week in and week out. But for many Americans, a slightly higher paycheck doesn't quite have the same visibility as a single $3,000 check in March or April.

"I think people are busy, maybe they get direct deposit, they're not paying attention and they feel like they have so much in taxes coming out anyway ... they don't necessarily notice a difference in the net pay. Especially if it's spread out over 26 pay periods," said Steven Zelin, a CPA based in New York.

With another two weeks left to file taxes, the general trend could shift. But it's unlikely that average refunds will go up, tax pros say. That's because the people who tend to file their taxes later in the season are the ones who know they owe money.

"Generally speaking, folks who expect a refund will file early, but folks who expect to pay file late," said Ivan Havrylyan, a Chicago financial planner.

That's because people paid less in taxes! This has already been explained to you. You can always loan the government money for free if you want, just write a check to the treasury.

it says it right in your article!

Bladewire loses...again.

:1orglaugh:1orglaugh:1orglaugh

Do you have another job, ruskie ?

Canadian muslim, would you like bladewire to continue to spread lies?

No it's not.

Nice try.

That GOP lie was debunked months ago when people realized they lost hundreds of deductions they had last year.

Here are just a few of the lost deductions that used to save the average person a lot of money at tax time:

The standard $6,350 deduction - GONE

Alimony deduction - GONE

Deductions for unreimbursed employee expenses.
Miscellaneous itemized deductions - GONE

A deduction for moving expenses - GONE

Deductions for certain school donations - GONE

Deductions from tax extenders - GONE

Personal exemptions - GONE

Unlimited state and local tax deductions - GONE

An unrestricted deduction for home equity loan interest - GONE

Unrestricted casualty loss deduction - GONE

A $1 million mortgage interest deductio - GONEn

Not unless you define hosting the local Klan meetings in his trailer as work.

Do you have another job, ruskie ?

can
confirm

the answer i am much more interested to hear from you is how a country with less tax revenue can pay HIGHER debts back.

what's your magic formula for that?

bankruptcy ....

... and guess who is an expert ....

:Oh crap

tickle up :2 cents::2 cents::2 cents:

Bullshit... most people are paying more taxes because they lost their previous deductions.. Maybe you get an extra $5/week t your burgerking job..

Bladewire loses again..

Oh so the article is fake news? hahha you guys just can't stop LOSING!

Facts don't matter to alt-right hate fake nics online.

They just repeat the same lie over and over and over and over again and hope some will eventually believe.

So the rich get richer, the poor got poorer, and the deficit went through the roof.

Let's fire the person in charge of Homeland Security. LOL.

No rochard, the poor now have jobs thanks to the record breaking employment, so they're not getting poorer.