You got a smaller re­fund? Great!

Los Angeles Times - - OPINION -

Re “Tax fil­ers an­gry as IRS is­sues fewer, smaller re­funds,” Busi­ness, Feb. 13

It is in­cred­i­ble how un­in­formed (or mis­in­formed) many peo­ple are about taxes and re­funds. What the “an­gry fil­ers” need to do is com­pare what they paid in taxes in 2017 ver­sus 2018, not their re­funds.

As the ar­ti­cle points out, 80% of fil­ers (mainly low- and mid­dle-in­come) paid less as a re­sult of the tax cuts. If peo­ple re­ceive a smaller re­fund this year, it is be­cause they re­ceived

more money in their pay­checks dur­ing the year. The new tax with­hold­ing ta­bles are meant to di­vert an amount that more ac­cu­rately re­flects what the tax­payer will owe for the year.

If a per­son wants a larger re­fund, there is a sim­ple so­lu­tion — opt to have more with­held from every pay­check through­out the year. Of course, most peo­ple who do this will be an­gry be­cause their checks will re­flect less take-home pay. Sorry, you can­not have it both ways.

The “an­gry fil­ers” need to read this ex­cel­lent ar­ti­cle if they want to have a bet­ter un­der­stand­ing of taxes and re­funds.

David Pow­ell


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