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Trump’s Tax Law Is Gouging Many Americans’ Refunds — and Retailers Could Feel the Impact

While tax season is often a stressful time for many, for retailers, it usually provides a welcome spending boost after the post-holiday lull.
This year, however, some Americans are already reporting dramatically slashed refunds, with some even owing money to the government for the first time in their lives in the wake of President Donald Trump’s federal tax reform bill. According to the IRS, the average tax refund check is down 8 percent, or $170, for the 2018 tax year compared to the year prior, and the number of people receiving a refund so far has fallen by nearly a quarter.
Using the hashtags #GOPTaxScam and #GOPTaxScamStories, Twitter users have been complaining of unexpected tax bills ranging from around $100 to $10,000 or more. Most said they had expected refunds in line with what they received in prior years, which they planned to put toward everything from tuition payments to child care. (Many also pointed to the recent headlines about Amazon’s $0 federal tax bill as a particular affront, given the circumstances.)
Past years also suggest that a significant number of Americans would likely have spent at least some of their refunds with U.S. retailers, who have come to count on the annual

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Via:: https://footwearnews.com/2019/business/retail/tax-refund-reductions-trump-tax-law-1202747532/