Tony Katz Today
Logic Alert: Why Your Tax Refund Might be Less in 2019
(Joe Sohm/Getty Images)
Tax season is off to a slower start this year, and many early filers are seeing smaller refunds in 2019 than in years past. The obvious conclusion: Donald Trump lied, the rich aren't paying their fair share, and also, Russian collusion!
All clear-thinking individuals recognize the obvious connection between lower taxes and smaller refunds, or course; however, WIBC host Tony Katz took time out of his busy schedule to explain the issue to the multiple persons venting on social media that they've been screwed by tax reform:
"When you get a refund, it is because you OVERPAID your taxes."
"...But if you got a tax cut, which is to say you paid less, why would you assume you would get the same size tax refund as 2018? It's not a gift from the IRS; it's your money! Do people not understand that it's their money? Do people rely on it to pay bills and get caught up? Absolutely. You know what I call that? A massive problem. A giant, giant, huge, ridiculous problem."
Click the link below to hear Tony's full commentary: