The first tax filing season under the new federal tax law is proving to be surprising, confusing – and occasionally frightening – for some Americans, especially those accustomed to getting money back from the government.
Take Andy Kraft and Amy Elias of Portland, Oregon. The couple had grown comfortable getting a small refund each year, a few hundred dollars or more. Then they found out they owe $10,160 this year. Continue reading “Americans shocked by impact of new tax law as IRS reports that total returns are down 16 PERCENT”