I Owe How Much? Americans Shocked By Impact of New Tax Law

Few taxpayers appear to have heeded the IRS’ advice to do a “paycheck checkup” to make sure they had the proper amount withheld.

Image via AP Photo/Gillian Flaccus

Wait, I owe the IRS? The first tax filing season under the new federal tax law is proving to be surprising, confusing — and occasionally frightening — for some Americans, especially those accustomed to getting money back from the government. Take Andy Kraft and Amy Elias of Portland, Oregon. The couple had grown comfortable getting a small refund each year, a few hundred dollars or more. Then they found out they owe $10,160 this year.… Read at AP News

Dear Reader,

Snopes.com has long been engaged in the battle against misinformation, an effort we could not sustain without support from our audience. Producing reliable fact-checking and thorough investigative reporting requires significant resources. We pay writers, editors, web developers, and other staff who work tirelessly to provide you with an invaluable service: evidence-based, contextualized analysis of facts. Help us keep Snopes.com strong. Make a direct contribution today. Learn More.

Donate with PayPal