Withum’s experts, Patrick Walsh, Tom Farrell and Hal Terr were quoted by CBS News commenting on 2018 tax refunds and liability.
As the days continue and we dive deeper into tax season, many taxpayers will benefit this year from the 2017 tax law while others are not quite so happy. CBS News dives into why smaller tax refunds don’t mean higher tax payments.
“I just completed an individual’s tax return whose 2018 income was similar to the income earned in 2017,” said Hal Terr, a co-leader of private client services at accounting firm WithumSmith+Brown. “The 2018 overall tax liability was less than 2017’s.”.
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