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Video instructions and help with filling out and completing What can i do if i lost my irs refund check
Thousands of Minnesotans may be shocked when they fill out their taxes this year despite the massive tax cut last year what you get or what you pay may be a lot different than you think here's Pat Kessler is reality check you heard it right from the top we want to give you the American people a giant tax cut for Christmas and when I say giant I mean giant politicians campaigned on the historic tax cuts are helping the middle class but many of us are like Michael who emailed reality check to say he's getting less than half of the refund he normally gets exactly where is my tax reduction mr. Trump he asked the truth is most of us did see a tax reduction the richer you are the more you got but the nonpartisan Tax Policy Center says 80% of us did get a tax cut but most of us forgot to do something very important last year after the tax bill adjusted the individual tax rates we did not change the amount of taxes withheld from our take-home pay H&R Block reports eight out of ten taxpayers did not change their w-4 that's not only affecting your refund many are actually paying more in taxes on top of that high tax states like Minnesota get a double tax whammy there's a limit on state and local taxes you can deduct and a cap on home mortgage interest here's the bottom line it's very early but the IRS reports the average refund is down eight point four percent about 170 dollars less this year than last year and for some taxpayers it's a lot less than that that's reality check the tax cut along with increased spending just helped push the national debt to a new high it had 22 trillion dollars this week in 2022 then candidate Trump said he could eliminate the national debt over a period of eight years.