[20190213]IN11042_我的退款在哪里？一段时间内和不同收入水平的退税趋势 .pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Wheres My Refund? A Look at Tax Refund Trends over Time and Across Income Levels Molly F. Sherlock Specialist in Public Finance Margot L. Crandall-Hollick Specialist in Public Finance Updated February 13, 2019 The issue of tax refunds has received robust media attention as 2018 tax returns are filed in early 2019. For individual income tax filers, 2018 was the first year in which the major changes signed into law by President Trump at the end of 2017 (P.L. 115-97) became effective. What Determines Tax Refunds? A taxpayers tax refund (or payment) in a given year is determined by income tax liability: what a taxpayer owes in federal income tax; and income tax withholding: the amount that the taxpayer has paid toward that tax bill during the year, often through their employer withholding income taxes from their paychecks. The refund (or amount owed) is the liability less the amount already paid through withholding. For many low-income taxpayers, the amount of their refund is largely determined by refundable credits. Refundable credits, unlike nonrefundable credits, are not limited to a taxpayers tax liabilit