A lot of people are seeing their tax refunds shrink in 2019, but the Treasury Department says a smaller refund is actually a good thing.
One Treasury official credits the smaller refunds to last year’s tax cuts, saying that most workers saw larger paychecks throughout the year, and that smaller refunds mean people aren’t ‘overpaying the government’.
On average, tax refunds are down about 8.7% this year. The Department says 80 percent of taxpayers will owe less this year than the year before.
What about you – was your refund lower this year?