Many Americans berated President Trump on social media when they received a smaller tax refund this year. People have come to love tax refunds, even if their financial experts say they're not a good idea.
Internal Revenue Service 1040 Individual Income Tax forms for the 2018 tax year. . By Heather Long Heather Long Economics correspondent Email Bio Follow April 24 at 8:25 PM The first tax filing season under President Trump’s tax law is over, and the results show that slightly more Americans received tax refunds but that the checks were smaller.
IRS and U.S. Treasury officials anticipated that fewer people would receive refunds this year and that the amounts would be lower, but the refund trends turned out to be similar to the prior year. Some people mistakenly thought a smaller refund was a sign they did not get a tax cut, but there is no connection between them.
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