The Trump tax cut (???) rammed thru the Republican Congress at the end of 2017 has NOT turned out to be what the GOPer’s said it would be….
It HAS turned out to be a TAX INCREASE for a LOT of Americans….
A transfer of wealth from middle class taxpayers to the wealthy and corporations, just what Republicans want….,
Trickle down ?
THAT is an outright lie…..
Vote Republican!
The people that enact TAX INCREASES in plain sight…
So THAT so they can take MORE money from you….
And on top of all of this?
Donald Trump, the Real Estate Guy, wants MORE taxpayer money for HIS Trump border wall!
Average tax refund amounts are down double-digits compared to last year, according to the latest batch of weekly IRS data about the 2019 tax-filing season released late Friday.
The average refund through Feb. 15 was $2,640, which is 16.7 percent smaller than the average refund through Feb. 16, 2018, according to the IRS data.
The administration said that timing issues were a factor in the difference between the refund sizes.
A Treasury Department spokesperson said that in the period covered by the 2019 data, the IRS had processed significantly fewer refunds claiming certain tax credits.
“As a result, comparing weekly data is misleading and confusing,” the spokesperson said.
By law, the IRS has to hold refunds for tax returns claiming the earned income tax credit and the refundable child tax credit until Feb. 15, and refunds that claim these credits are often bigger than refunds that don’t claim them.
Last year’s data includes an additional day in which the IRS was processing refunds claiming the tax credits. The IRS data for this year goes through Feb. 15, while the data for last year goes through Feb. 16 of that year.
IRS data for the first two weeks of the year this year showed an 8.7 percent decline in average refund size compared to 2018.
Refund data is being closely watched this year because this is the first filing season under President Trump‘s 2017 tax-cut law…..