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April 26, 2019

IRS data: tax refunds down 2% under new law

By SARAH SKIDMORE SELL
AP Personal Finance Writer

IRS data released Thursday shows that while the average refund fell, the tax filing season was largely unchanged by the massive tax overhaul.

The Tax Cut and Jobs Act, pushed by President Donald Trump, lowered the tax rate for most Americans. This year was the first time taxpayers filed under its changes. It overhauled many of the rules surrounding the process — such as roughly doubling the standard deduction and limiting many popular itemized deductions.


 
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