CBS4 reports on the story of one Denver woman for whom 2017’s so-called “Tax Cuts and Jobs Act” had a rude surprise in wait — a YUGE tax bill instead of the refund she expected:
Isadora Bielsky typically gets a tax refund, but not this year. In fact, she is one of thousands of Americans who got a big surprise when filing taxes.
“I plugged it all in and at first I thought oh my goodness we’re getting $8,000 back and then I realized it was the wrong color; so, I went back in and checked everything and I started to cry,” she told CBS News…
The Internal Revenue Service says last year refunds averaged around $2,100 dollars, so far this year, the number is around $1,900.
“I believe in paying taxes, but you can’t expect average Americans who have bills to pay and things they want to do. To save money that they don’t know they’re going to need,” said Bielsky.
An $8,000 surprise tax bill isn’t a typical case, but the story is consistent with a growing trend of Americans discovering that the tax cut they thought they were getting isn’t showing up on their 1040. Although many Americans saw slight increases in their take-home pay, as it turns out they simply weren’t withholding enough–a problem that conveniently only revealed itself after the 2018 midterm elections.
If you’ve already filed your taxes for 2018, did you see a change from the prior year?
And was it a good change?
If not, the Trump tax cuts simply weren’t about you.