Why a Tax Cut Might Not Mean a Bigger Refund

Tax season can be a beneficial time for some and a difficult time for others. Many of us get money from the IRS while others owe money. Have you ever wondered why you got a really small refund or owed a ton of money? The answer is that the tax cuts we took in 2018 went to receiving bigger paychecks. “After the Internal Revenue Service sent out new withholding tables early last year, employers adjusted the amounts taken out in each pay period, whether you noticed or not.” The IRS has tried to reach a “sweet spot” when taking taxes to avoid dramatically affecting people’s paychecks. Even though you might think your getting a small tax return, the money you’re missing is being deposited in your bank every two weeks.

https://www.nytimes.com/interactive/2019/02/22/your-money/tax-cuts-refund-return.html?action=click&module=News&pgtype=Homepage

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