The first tax season under the new Tax Cuts and Jobs Act is in full swing, and some filers have been surprised to see smaller than expected refunds. According to the IRS, the average refund as of February 8 is $1949, down $186 from the same time last year. The…
Tag:
Income taxes
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More than 1.2 million Californians have claimed the California Earned Income Tax Credit (Cal EITC) in 2018—nearly tripling the number of claims from the previous year. The Cal EITC is available to qualified, low-income tax filers, who may be eligible for as much as $6,000—money that can be used to…
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You’ll probably hear the sound of fireworks at the stroke of midnight on January 1, but something else happens at midnight that’s causing plenty of fireworks without any sound at all. In less than a week the new tax system will go into effect. The sweeping legislation, official name H.R.…