IRS Tax Refunds Plunge 8.4% Under New Trump Tax Law: ‘There Are Going To Be A Lot Of Unhappy People’

0


The average tax refund from the IRS has dropped 8.4 percent in the first week of the 2019 filing season after the first full-year under President Trump and the GOP’s 2017 tax law, according to agency statistics reported by Politico on Friday.

“There are going to be a lot of unhappy people over the next month,” Edward Karl, vice president of taxation for the American Institute of CPAs told Politico. “Taxpayers want a large refund.”

The recent five-week government shutdown, the longest shutdown in history, has also contributed to the decrease in 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 report said.

“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,” the report continued.

The IRS is encouraging workers to file early this year.

“IRS systems are operating smoothly to start the filing season, and refunds are being issued,” a statement said. “The IRS encourages taxpayers to e-file as the quickest way to receive their refunds.”


Unsurprisingly, many taxpayers have not been happy to discover that what they expected to be a decrease in taxes paid is actually an increase. Some have taken to Twitter to express their anger:




Source theguardiansofdemocracy

Leave A Reply

Your email address will not be published.