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re: Anyone notice a difference in their tax refund/payment this year?
Posted on 2/10/18 at 7:54 am to BengalBlood81
Posted on 2/10/18 at 7:54 am to BengalBlood81
The tax cuts don't affect this year's refund. This year's refund is for last year when the old laws were still in effect.
2
Posted on 2/10/18 at 8:08 am to Bestbank Tiger
The above is correct. Will be interesting. The new withholding rates have only given me back an extra $7.00 per check. I know others who got much more after the change, so not sure what's affecting that. Could be because of my dependents or could be I end up getting significantly more back next year because my employer is being extremely conservative.
Posted on 2/10/18 at 8:08 am to Bestbank Tiger
quote:
The tax cuts don't affect this year's refund. This year's refund is for last year when the old laws were still in effect.
Exactly...The only noticeable change is on your current paycheck, most everyone's take-home pay has increased because the tax tables have been adjusted downward because your 2018 tax burden has been reduced because of the trump tax cuts.
Hang on to your 2017 tax filing and compare it to what you file next year for 2018...this will tell the true story of exactly what the tax cut did for you.
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