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IRS Data: Rich Americans Received Bigger Tax Refunds Under Trump's New Tax Law

from MarketWatch

New data from the Internal Revenue Service estimates that people making between $250,000 and $1 million per year saw their refunds increase, according to new IRS statistics. As of late May, the federal government had refunded taxpayers $306 billion for their overpayments in the first year the Tax Cuts and Jobs Act took effect, down from $311 billion in refunds at the same time in 2018. more

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