Tax refunds 2019: Here’s why yours may be smaller, or why you may owe | Fast Company


Most Americans have a smaller total federal income tax bill for 2018 than they did in previous years, thanks to the tax law passed by Congress in 2017. But thanks to changing instructions from the IRS on how to withhold tax, many people will see smaller refunds or may even owe money when they file their tax returns.

So far, the average refund paid to taxpayers is down 8.7% to $1,949, from an average of $2,135 this time in filing season last year, according to the IRS.

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