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Friday, February 26, 2016

What America Thinks: Fewer Tax Refunds Ahead?

It’s Americans’ favorite time of the year—tax season—and they may like it even less than usual now that fewer taxpayers expect a refund. Just 38% think they are getting money back from the government this year, down 10 points over the past three years. However, Americans aren’t any more likely to think they’ll owe money either; they’re just more likely to think they’ll break even. Last year at this time, 43% expected a refund. By April, 49% expected to get money back, so we’ll see if optimism rises as we get closer to Tax Day.

Whether they get money back or not though, nearly half of Americans think they are personally overtaxed.