Why Tax Refunds Are Smaller Than Last Year

The IRS says tax refunds will be 11% smaller in 2023 than in 2022. Here are 3 reasons why you may be seeing a smaller refund.

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LINKS:
https://www.cnbc.com/2022/02/24/your-2021-child-care-costs-could-mean-8000-tax-credit.html
https://www.kiplinger.com/taxes/child-tax-credit-faqs
https://www.irs.gov/publications/p503#:~:text=For%202022%2C%20the%20credit%20for,of%20your%20employment%2Drelated%20expenses.
https://finance.yahoo.com/news/tax-refunds-are-almost-11-smaller-this-year-early-data-shows-152458218.html?guccounter=1&guce_referrer=aHR0cHM6Ly93b3JrZHJpdmUuem9oby5jb20v&guce_referrer_sig=AQAAALCLLOaCwVfLZ8tTfoEBv0EEXl8MvetsyKieKSDn6LM2RZ6eaqQTIZxTjXtqDxp00T2CGG2S4LLiPCsWHmOvx0HkDclKaNA7Afjye16G_ut5Vnre5GrksIq8RyBIKEuQCa8qSFEuM-eWMwYYULyeQ7u5OWfpZyR3Wh3w2ASZm1b6

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Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results.