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Average refunds are down more than 8% compared to last year due to the recently enacted change in tax laws. The primary culprits for lower refunds are:
Reduced State & Local Property Tax Deductions
Reduced Tax Withholding from Paychecks
The shock of a lower refund or even worse, having to owe has been all too familiar to taxpayers residing in the Tri-State area. If you need assistance in helping to prepare for next year by learning how to increase your tax withholding or speaking with a tax professional about your property taxes, contact us at (888) APRIL-15 or click “Book Appointment” above.