Your tax refund may be smaller this year. Here's why
By Jeanne Sahadi, CNN Official tax-filing season kicks off Monday, January 23, and it may hold some surprises for your wallet. So, whether you expect to file your 2022 federal income tax return right away or wait until the last minute, now is a good time to get a sense of whether you’ll owe more money to the IRS, or whether you’ll likely get a refund and if so, how much. Here’s why: The amounts might be very different than they were last year. S…
Taxpayers are cautioned that refunds are likely to be smaller this year
The IRS today starts accepting 2022 tax returns. Jan Lewis of the American Institute of CPAs says some taxpayers might receive smaller refunds as many pandemic-related breaks are no longer available.