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In reply to the discussion: Why Many Americans Are Shocked by Their Trump Tax Refund [View all]forgotmylogin
(7,519 posts)12. Also, there are people whose situations didn't change at all but they're paying now.
I lucked out because my tax return is simple and now live in the same state where I work. Even including the income from my last debt-settlement, I got some money back.
My best friend and his wife just bought a house and were royally pissed that they didn't get the deductions they were planning on. Went from getting $2000 to paying $2000. I feel so bad for people who unexpectedly had to cough up that kind of cash and don't have it on hand.
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Also, there are people whose situations didn't change at all but they're paying now.
forgotmylogin
Apr 2019
#12
"Drop in withholdings"? Oh, you mean the amt the employer withheld from paycheck.
Honeycombe8
Apr 2019
#7
Even the lower earnings categories got a small tax cut, in the bracket rate.
Honeycombe8
Apr 2019
#23
True. The property tax cap hit upper middle class, or those in high-tax states.
Honeycombe8
Apr 2019
#33
Yes. The Repubs have been after mortgage interest & prop tax deductions for YEARS...
Honeycombe8
Apr 2019
#37
I was beginning to wonder if that was the plan. If the withholding was intentionally too little.nt
Honeycombe8
Apr 2019
#24
You were correct. He was able to deduct t $800 of $6000 in interest payments.
sinkingfeeling
May 2019
#38