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Tax 'refunds may be smaller in 2023,' warns IRS. Here's why

Por: CNBC Business December 01, 2022

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10'000 HoursIf you're expecting a tax refund in 2023, it may be smaller than this year's payment, according . Typically, you get a federal refund when you've overpaid yearly taxes or withheld more than the amount you owe.Your annual balance is based on taxable income, calculated by subtracting the greater of the standard or itemized deductions from adjusted gross income.Refunds may be smaller in 2023, the IRS said in a... + full article



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