THAT’s what I’m calling here…
I REALLY do NOT give a shit what anyone in the media calls it…..
My OVERALL amount off paid Federal taxes has gone UP….
That is the story for EVERYONE I know….
My accountant6 explains what Trump’s,p and his Republican buddies rammed thru at the end of 2017 with the Democrats locked out the Congress…
The overall tax rate went down…..
Most people got a tax drop of less than a $100.00 a month….
The new tax laws ELIMANTED tons of deductions that people have used in the past this negating any tax rate drop for people…
THIS WAS a tax increase….
Democrats complained at the time that the new tax code was discriminatory to us in ‘Blue States’….
They had it right….
(The latest from the IRS is refund amounts have increased?…..WTF don’t I believe THAT from Trump’s IRS spokesperson..)
Republicans that are ponying up MORE money out of their pockets to the US Treasury are idiots….
The tax law is Trump’s biggest legislative accomplishment to date, so this year’s filing season has been of particular interest from a political perspective.
“It’s such a political story,” said Nathan Rigney, lead tax research analyst at H&R Block’s tax institute. “You’re seeing tax stories getting a lot more coverage this year than your average tax season.”
Evelyn Pimplaskar, tax editor for Credit Karma, said it’s natural for taxpayers to be having some anxiety because they’re dealing with a new tax code.
“We’re all first-time filers this year,” she said. “We’re dealing with a pretty new tax situation for most people.”
The recent 35-day government shutdown, which ended days before the filing season began, also complicated matters. When the government reopened, the IRS faced a backlog of correspondence and lower levels of service on their phone lines.
Tax preparers said that they were busy even before the filing season began, because they had to learn about the tax changes and also had to figure out how best to explain the changes to clients.
Now that the filing season is underway, preparers say that they are spending more time preparing their clients’ returns, and are also spending more time reviewing the documents with their clients to give them a sense of how their taxes changed.
“We’re spending a lot more time reviewing the tax returns with the client, and explaining how [the tax law] impacted them,” said David Young, a certified public accountant in Rochester, N.Y.
The Trump administration estimates that about 80 percent of taxpayers will see a tax cut for 2018, compared to if the law hadn’t been enacted, while another 15 percent of taxpayers will see their taxes stay about the same.
Still, people have a number of questions about how they will shake out due to the changes.
Many taxpayers have been focused on the size of their refund, which reflects the extent to which they overpaid in taxes over the course of the year. While many people who got a smaller refund still got a tax cut, people often focus on their refunds because they count on them to pay off debt or make major purchases.
Rigney said that he’s “seen people in tears” because they’ve gotten bigger refunds than expected, but has also “seen people very frustrated because they’ve gone from getting a refund to owing.”
Tax preparers said they’re encouraging people who are upset with their refund size to adjust their tax withholding. They also said they are spending some of their time explaining to people who got smaller refunds that, in many cases, their tax liability still went down…..