Artwork

Content provided by WNYC Studios. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by WNYC Studios or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Player FM - Podcast App
Go offline with the Player FM app!

Tax Season Shocker

6:51
 
Share
 

Archived series ("Inactive feed" status)

When? This feed was archived on April 07, 2021 00:13 (3+ y ago). Last successful fetch was on September 13, 2019 12:07 (5y ago)

Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 228294142 series 56241
Content provided by WNYC Studios. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by WNYC Studios or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

If you're depending on a tax refund this year to pay loans, make a down payment on a car or take a vacation, you might be out of luck.

According to the IRS, average refunds have been lower compared last year. If the trend continues, many Americans will end up with a smaller refund or worse — they may owe the government. Residents in high-tax states, like New York and New Jersey could see a bigger swing because President Trump's tax code overhaul capped deductions for state and local taxes.

But it doesn't mean people paid more taxes overall. The amount the IRS withheld from each paycheck was lower, so many people had a little more money each time they got paid. But it's a big change for those Americans who've become accustomed to pocketing some extra cash during tax season.

On this episode of Money Talking, Charlie Herman talks to Heather Long, economics correspondent for The Washington Post, about why this is happening and the political consequences it might have.

  continue reading

151 episodes

Artwork

Tax Season Shocker

Money Talking

22 subscribers

published

iconShare
 

Archived series ("Inactive feed" status)

When? This feed was archived on April 07, 2021 00:13 (3+ y ago). Last successful fetch was on September 13, 2019 12:07 (5y ago)

Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 228294142 series 56241
Content provided by WNYC Studios. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by WNYC Studios or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

If you're depending on a tax refund this year to pay loans, make a down payment on a car or take a vacation, you might be out of luck.

According to the IRS, average refunds have been lower compared last year. If the trend continues, many Americans will end up with a smaller refund or worse — they may owe the government. Residents in high-tax states, like New York and New Jersey could see a bigger swing because President Trump's tax code overhaul capped deductions for state and local taxes.

But it doesn't mean people paid more taxes overall. The amount the IRS withheld from each paycheck was lower, so many people had a little more money each time they got paid. But it's a big change for those Americans who've become accustomed to pocketing some extra cash during tax season.

On this episode of Money Talking, Charlie Herman talks to Heather Long, economics correspondent for The Washington Post, about why this is happening and the political consequences it might have.

  continue reading

151 episodes

All episodes

×
 
Loading …

Welcome to Player FM!

Player FM is scanning the web for high-quality podcasts for you to enjoy right now. It's the best podcast app and works on Android, iPhone, and the web. Signup to sync subscriptions across devices.

 

Quick Reference Guide