Many People Will See Changes to Tax Refunds this Year
Wednesday, February 20th, 2019 -- 9:48 AM
(WRN) -Many people are going to be seeing changes to their tax refunds this year.Many people are going to be seeing changes to their tax refunds this year. Madison College accounting instructor Kim Varsho says changes both to withholding tables and reductions in deductions will be modifying the amount people are getting back from the government.
"This year they could be looking at a surprise. Whether that be a bad surprise with less refund, or a good surprise, more refund, depending."
Varsho says the new tax law changed a number of things that usually goes into a refund check.
"Because withholding changed, we got bigger paychecks throughout the year, and certain deductions have been eliminated, which could also impact taxpayers to get a little bit less money."
Varsho says that money isn't actually gone, but rather employers withheld less money per paycheck than before.
"You know, you just don't really realize a whole year, that can really add up to some big numbers."
Varsho reminds people to be observant and go over their tax returns carefully this year.
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