Millions of Americans filling out their 2018 taxes will probably be surprised to learn that their refunds will be less than expected or that they owe money to the Internal Revenue Service after years of receiving refunds.

People have already taken to social media, using the hashtag #GOPTaxScam, to vent their anger. Many blame President Trump and the Republicans for shrinking refunds. Some on Twitter even said they wouldn’t vote for Trump again after seeing their refunds slashed.

The uproar follows the passage of a major overhaul to the tax code in December 2017, which was enacted with only Republican votes and is considered the biggest legislative achievement of Trump’s first year. While the vast majority of Americans received a tax cut in 2018, refunds are a different matter. Some refunds have decreased because of changes in the law, such as a new limit on property and local income tax deductions, and some have decreased because of how the IRS has altered withholding in paychecks.

Full story: https://www.washingtonpost.com/business/2019/02/10/millions-americans-could-be-stunned-their-tax-refunds-shrink/?utm_term=.1dd288854f70

VISIT THE MIKE MALLOY SHOW HOMEPAGE
http://www.mikemalloy.com/

SUBSCRIBE TO AN AUDIO/VIDEO PODCAST
http://www.mikemalloy.com/register/

SUBSCRIBE TO THE MIKE MALLOY YOUTUBE CHANNEL
ONE VIDEO A DAY...EVERY DAY
http://www.youtube.com/MikeMalloyVideo

SUPPORT THE MIKE MALLOY YOUTUBE CHANNEL
https://www.paypal.me/MalloyYoutube

MIKE MALLOY YOUTUBE CHANNEL PATREON PAGE
https://www.patreon.com/MikeMalloyShow