IRS says tax refunds may be smaller this year
That's because of several recently passed changes to the tax code.
A 1099-K form, which is used by third-party networks, can now be triggered by a single transaction that exceeds
For those claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), the
Additionally, some large refunds for tax years 2020 and 2021 were allotted because taxpayers who hadn't received their Economic Impact stimulus payments claimed them when they filed their taxes.
For those who use payment processors, and who receive a 1099-K for the income they didn't earn, such as personal gifts or reimbursements for personal expenses — which are not taxable — the
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There are a few new or expanded tax credits that may be available to taxpayers, including the Premium Tax Credit and the Clean Vehicle Credit.
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