What You Need to Know About Your Tax Refund This Year
Heritage Explains
Heritage Podcast Network
4.7 • 847 Ratings
🗓️ 12 April 2019
⏱️ 18 minutes
🧾️ Download transcript
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| 0:00.0 | From the Heritage Foundation, I'm Michelle Cordero, and this is Heritage Explains. |
| 0:28.8 | Fact. The amount of your tax refund |
| 0:31.4 | has nothing to do with how big your tax cut was. |
| 0:36.6 | But if you've watched the news lately, you wouldn't know that. |
| 0:41.8 | Tax season 2019 and tonight some early returns suggest many Americans won't be getting the |
| 0:48.0 | refunds they expect and could even owe money to the IRS. Already some early filers have lashed out of President Trump on Twitter. |
| 0:56.3 | I just did my taxes and made the same as last year. I owe 4,000 more. I voted for Trump, |
| 1:01.6 | but will not be next election. Worst tax return I had in a decade, and I won't vote for you again, |
| 1:07.7 | especially after I started on my 2018 return. |
| 1:15.6 | The growing anger over shrinking tax refunds. It's the first tax season since President Trump's new plan went into effect, and people are flocking to social media to complain |
| 1:20.0 | they're not getting back as much money as last year. Rebecca Jarvis is here with more. |
| 1:24.7 | Rebecca, what is behind this? Good morning, Michael, guys. Good to see you. Yeah, most look forward to that refund check. |
| 1:30.1 | Some even rely on it. But so far this year, many of those who've received tax refunds in the past aren't getting them, and some are even having to pay extra. |
| 1:38.9 | Tax Day is just one week from today, and this year marks the first time Americans are filing taxes under the tax reform |
| 1:45.0 | plan that President Trump made law in December of 2017, which made significant changes to rates |
| 1:51.2 | and deductions. The president promised that most people would see a tax cut. So how are folks feeling |
| 1:56.5 | about it? Well, a new NBC poll says 28% of respondents think they'll ultimately pay more in taxes. |
| 2:02.8 | Only 17% think they're going to pay less. This idea that President Trump and his new tax policy |
| 2:09.4 | was responsible for Americans owing more or receiving less in their refund. This is the way the media |
| 2:16.6 | has written their headlines and started |
| 2:18.8 | their new segments. They've profiled working-class Americans who had important bills that |
| 2:24.8 | needed to be paid with their refund check and were disappointed that they weren't able to do so. |
... |
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