If you’re banking on a tax refund, it may be smaller, or you may owe money this season, according to financial experts.
The advance child tax credit, paused student loan payments and year-end mutual fund payouts may cause higher taxable income for 2021.
If you’re banking on a tax refund, it may be smaller, or you may owe money this season, according to financial experts.
Typically, you get a federal tax refund when you’ve paid or withheld more than the amount you owe, based on taxable income.
The IRS subtracts the greater of the standard or itemized deductions from adjusted gross income to reach taxable income, and there are a few reasons why it may be higher in 2021…[READ MORE..]
