You might get a smaller Refund

Your Income Tax Refund may surprise you -- and not in a good way.

Houston CPA Wes Middleton says when the tax law changed, so did the withholding rules.

"Quite simply, the withholding tables changed and people, while they got more money throughout the year, they're gonna find -- when it comes to the end of the year -- their refunds will be a little smaller."

Middleton says you need to submit a new W-4, if you count on getting a large refund each year.

"If you like that and you want that to happen you need to go in and fill out a new W-4 with your employer to change your withholding status."

Some people, used to getting $3,000 refunds, will get $2,000 instead.

"I do think there will be people who will get less of a refund but overall they probably paid less taxes they just got it throughout the year to use each week or whenever they got a paycheck."

Middleton says if you're used to getting less on every paycheck and getting a big refund this time of year, you need to change your withholding status.

 
 

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