How new tax law has affected size of refunds

Tax filing season is open. Lots of people will be trying to figure out if they’ll get a refund or owe money to the government, which made us curious about something that we covered the last time around. Last tax season was the first one under the Tax Cuts and Jobs Act, a massive overhaul of the tax code. Many predicted that tax refunds would drop significantly because of changes in the law. In the end, they only fell a little bit. What gives?

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