X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Even among those who did get refunds, Treasury data shows the average amount dropped to $1,949, compared with $2,135 in 2018. (Photo: Bloomberg)

Treasury Secretary Steven Mnuchin faces an uphill battle convincing Americans that smaller tax refunds don’t necessarily mean they paid more taxes for the whole year.

The number of tax refunds issued so far this year — the first tax filings since the 2017 tax law was enacted — fell nearly 16 percent to 11.4 million, compared with 13.5 million at the same point in the tax filing season last year, according to Treasury data published on Thursday. Even among those who did get refunds, the average amount dropped to $1,949, compared with $2,135 in 2018.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.