PHILADELPHIA (KYW Newsradio) — The 2018 tax deadline is approaching, so how are Philadelphians feeling about their tax refunds that are due, if any?
Sean Dugan at Reading Terminal Market said his tax refund was a bit smaller than last year, so he wasn't thrilled. But it won't affect his sandwich habit.
"As long as WAWA keeps them at $5, we're good," Dugan said.
As we approach the @IRSnews tax filing deadline, if your tax refund is smaller, is it because you lost deductions, or your pay check was fatter? pic.twitter.com/M9qKg2LvIW
— Steve Tawa (@stevetawa)
April 10, 2019 As J.P. munched on a roast pork sandwich with his wife, he mentioned their family additions are adding up.
"The biggest impact was the addition of our third child. We got an additional tax credit there. But I did notice a big difference between the standard and itemized deduction."
While last year's tax overhaul promised relief, many people complained it eliminated or cut back some popular deductions, like capping the deduction for state and local taxes at $10,000. Previously, the deduction was unlimited.
.@IRSnews says data released this week shows the average refund this year - at $2873 - is only $20 less than it was last year. pic.twitter.com/u3kBbegL9J
— Steve Tawa (@stevetawa)
April 10, 2019 The IRS encourages taxpayers to review their tax withholding using the IRS Withholding Calculator to generally control the size of refunds, by adjusting tax witholding. The IRS says doing a Paycheck Checkup can help you avoid having too little or too much tax withheld from paychecks.
Mary and her husband who own a small business said they came out OK.
"We have a small refund, which we had not had previously, so I'm not quite sure if it's the tax law, or how we're taking care of business," Mary said.
Larry, a cook, says he got much less back this year.
"It's a lot less than I got back in years' prior. Not much has changed, I didn't get a raise, so my bracket hasn't changed," said Larry whose a cook.
He insisted that it wasn't due to a larger paycheck.
"I would tell the IRS to come sit in my house, and we can go over the bills together, and I'll show them," he continued.
