New tax law brings unpleasant surprise to filers
"Greg Tully is 71, and for the first time in his working life he will not receive a federal tax refund.
“Last year we got $631 back. This year we owed around $1,500,” he said.
Like Tully, of Saugus, thousands of taxpayers across the state are learning their refunds are smaller than in years past, and some are finding they owe money.
The IRS on Feb. 1 reported the average tax refund so far in 2019 had decreased by 8.4 percent – or $183 – to $1,901 compared to 2018.
“A lot of people are very surprised with their refunds, or lack thereof,” said Paul Russo, tax director at The 1911 Trust Co. in Beverly."
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