We’re seeing lower 2018 refunds than prior years. Many taxpayers are shocked.

“Average tax refunds down 8.4 percent as angry taxpayers vent on social media,” according to AOL. “What will your tax refund be? So far, they’re smaller by an average of $170,” says USA Today. And, according to the Washington Post, “Millions of Americans could be stunned as their tax refunds shrink.”

So what happened? Well, IRS withholding tables were on the light side, as published

during the winter of 2018. Pressure was reportedly on big increases in take-home pay.

Here’s the problem with that. Americans typically pay very close attention to the size of their refunds. Ask people how much they paid in taxes, nobody knows. Ask them how much they got in their refund, people know.

So, I guess we’re wondering where’s my refund and learning that it’s been in our pocket!

With over 20 years of experience in public accounting, Amanda Bechen CPA owns Bechen & Company PC located in Wagner, SD, and can be contacted at 605-384-4200 or www.bechenco.com.