P>FS in radio, it's all about what's next. Go to financialsurvivalnetwork.com and sign up for your free weekly newsletter. You'll also get three free reports. The Financial Survival Network is all about what's next. Welcome, you are listening to the Financial Survival Network. I'm Carrie Lutz. Today is February 2019. Well, if you are one of the many millions of Americans who've gotten smaller refund checks compliments of the IRS Christmas club savings account, well then you probably want to hear what we're gonna say. Why it's happening, why it's not necessarily bad, what it means, and what about next year. Well, our good friend Jeff Sahab, noted tax expert and all-around accounting guy, is with us now to opine on this. Jeff, it's great to have you back. Why are the refunds getting smaller? Hi, Kerry. Thanks for having me. You know, people are expecting refunds because they look at it like a savings plan, I think like you're mentioning. And the refunds are smaller because the accounting software that's used to withhold taxes throughout the year actually adjusted during the year. So what happens is people might have experienced a slightly larger take-home pay, but didn't quite realize that that was the benefit. And so then they get to the refund part of the year that we're going into now where they're gonna file their return and see if they get any money back. And they're wondering where the money is that they thought what they were getting back. Uh-huh. So effectively, it's kind of an illusion they got. I mean, our society is professional procrastinators, right? So I think due to that instinctive procrastination that we have, we end up surprised by something that we could have actually known about a year earlier. And so now we end...
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Video instructions and help with filling out and completing Form 843 Refund
