Economist Joann Weiner told Newsweek that 'lots of stimulus benefits and tax credits went away' over the last year, resulting in reduced refund amounts.
Squawk Box
The drop in total tax refunds reflects a 10.6 percent decrease from 2022, which analysts have largely chalked up to the ending of pandemic-related tax credits, like stimulus checks.University, told."Many of those tax credits were refundable, meaning that people could get a refund on their taxes. Eliminating the credits would, thus, eliminate or reduce the amount of the refund."
"For many working families, tax refunds are the biggest one-time windfall of the year. Surveys show most families use that money to pay down debt, make home improvements and pay everyday expenses," he said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Angels outright infielder David FletcherFletcher, 28, is due more than $20 million through the 2025 season, but the Cypress High and LMU product has now been removed from the 40-man roster.
Consulte Mais informação »
Elon Laughs Off Twitter's Value Plunge, Calls it ‘Priceless’Twitter CEO Elon Musk said in an interview that aired Monday that it’s still to be determined whether his acquisition of the social media company last year was “financially smart” given its subsequent drop in value.
Consulte Mais informação »
Report finds democracy for Black Americans is under attackA new report from the National Urban League is citing what the civil rights and urban advocacy group says are some of the top threats to democracy for Black Americans.
Consulte Mais informação »
Report finds democracy for Black Americans is under attackA new report from the National Urban League is citing what the civil rights and urban advocacy group says are some of the top threats to democracy for Black Americans.
Consulte Mais informação »
Most Americans say they or a family member has experienced gun violence, survey findsNearly 1 in 5 respondents, including 34% of Black adults, 18% of Hispanic adults and 17% of white adults, said a family member had been killed by a gun.
Consulte Mais informação »