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Average tax refund down 8.4 percent in first filing week

Rogue Valley

Rogue Valley

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Average tax refund down 8.4 percent in first filing week

2/8/19
The average tax refund from the IRS dropped 8.4 percent in the first week of the 2019 filing season compared to the same period last year, according to agency statistics. “There are going to be a lot of unhappy people over the next month,” said Edward Karl, vice president of taxation for the American Institute of CPAs. “Taxpayers want a large refund." Some 71 percent of taxpayers received refunds last year worth about $2,000 on average, Karl said, which represents the single largest financial transaction for the bulk of those people in a given year. The size and number of refunds will be politically sensitive this year in particular.
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What happened to the larger TCJA tax refunds the GOP promised Middle America in 2017?
 
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