Tax Refunds In Question

This won’t make many Americans happy.

Do to several changes made to the tax code such as things like the Child Tax Credit and more, it now appears that many Americans will receive a much smaller tax refund than they usually expect every year.

According to Yahoo, associate director for Prosperity Now, Joanna Ain, stated, “Some [refunds] are going to go up, some are going to go down… it totally depends on a bunch of variables. So is your refund going to be lower? We just want you to be prepared that it may be.”

Your tax refund will depend most heavily on whether or not your received the Child Tax Credit (CTC).

“Many are going to receive the balance of this when they file their taxes,” Ain explained. “This balance may be less than they received in previous years because in previous years, they received the full chunk [of the credit].”