H&R Block: Taxes Down 25 Percent This Year

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Posted by Alex Hendrie on Thursday, April 11th, 2019, 4:35 PM PERMALINK

Biweekly paychecks have increased by $50 per check​

Taxes are down 24.9 percent on average following passage of the Tax Cuts and Jobs Act, according to a report released today by H&R Block based on their clients’ tax returns.

The report states: “overall tax liability is down 24.9 percent on average.”

Tax refunds are also up, contrary to the line being pushed by Democrats and the establishment media. “Refunds are up 1.4 percent,” according to the H&R Block report.

The GOP’s Tax Cuts and Jobs Act reduced taxes for Americans at every income level. The majority of this tax relief has been felt by Americans in the form of higher paychecks throughout the year.

Biweekly paychecks went up by $50, as noted by the report:

“With tax liability down nearly $1,200 on average, but refunds up just $43, an average of $1,156 went into paychecks during the year, or about $50 a biweekly paycheck starting in March of 2018.

The report also breaks down change in tax liability by state. Taxpayers in every state have seen average tax reduction of at least 18 percent:

“all 50 states and D.C. saw their average tax liability decrease anywhere from 18.0 percent to 29.1 percent.”

This data reinforces the success of the Tax Cuts and Jobs Act, which has also grown the economy, made America a more competitive place to do business, and simplified tax filing for millions of Americans.

See also: 800 examples of pay raises, bonuses, 401(k) match increases, expansions, benefit increases, and utility rate reductions due to the Republican tax cuts.

 

Photo Credit: Gage Skidmore

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