Why Are Tax Refunds Different in 2019?
According to tax-preparation company H&R Block, 2019 has been the most confusing year for people filing tax refunds following the new federal tax law. This is largely due to the fact that people’s refund sizes may have changed this year. In fact, refunds are down by $6 billion from 2018. Although the average tax return is only down by $20 per person, 1.6 million fewer people will be receiving tax refunds this year.
While your tax refund may be smaller this year, you likely paid less in taxes per paycheck. Nonetheless, receiving a lump sum check often seems better than marginally larger take home paychecks spread across 26 payments.
If you want to get your tax refund as fast as possible, you should file online with a service like H&R Block and request direct deposit. H&R Block is actually free and provides helpful explainers along the process. You can also use a free tax calculator to calculate your refund on their website.
If you need documents from last year’s taxes, you can obtain them on the web at www.irs.gov and click Order A Transcript , via phone at 800-908-9946, or through the mail.