Kaboom! CNBC NEWs: FAMILIES WITH CHIDREN WILL GET THE BIGGEST TAX REFUND IN 2019

According to liberal CNBC the group of people to get the most tax refund from the tax cuts that was passed by the GOP and Trump will be families witg kids....2 years ago this same CNBC and tbe enter democrats establishment and liberal media all said the Trump and GOP tax cuts won't benefit the middle class and the American people...Now the are signing a different dune./b>

CNBC on Friday 21nd/2019: This group of Americans will most likely get the biggest tax refunds
Megan Leonhardt | @Megan_Leonhardt
5:18 PM ET Thu, 21 Feb 2019
CNBC.com

Families with kids will likely see the biggest refund

Those with children still living at home may see a bigger refund this year, Lynn Ebel, director at The Tax Institute at H&R Block, tells CNBC Make It. Especially if they live in low-tax states such as Texas, Washington and Wyoming.

"Families with children under 17, especially those who claim the standard deduction in 2017 and will claim it in 2018, are most likely to get a refund bigger than anticipated," Ebel says.

Under the new law, families can deduct up to $2,000 per qualifying child, up from $1,000 previously. These are credits, so if you tax bill is $10,000 and you qualify for the maximum credit, your bill goes down to $8,000. Plus, up to $1,400 of the child tax credit is refundable this year. So even if you don't owe any money to the IRS, you can get that money back as a refund.

"The child tax credit is a great boost for young families with children," Harlene Stevens, a CPA with accounting firm Nisivoccia LLP, tells CNBC Make It.

There's also a new, non-refundable $500 credit for other qualifying dependents who may not otherwise meet the requirements for the larger child tax credit. For example, if you have college-age children under 23 who are still living at home, or if you are supporting grandchildren, you can claim the credit.

However, Ebel notes if you don't have children or dependents and you itemized your deductions in 2017, and plan to do the same in 2018, you will likely see a smaller refund. This set of Americans "are one of the groups most at risk of owing instead of getting a refund," she says.

https://www.cnbc.com/amp/2019/02/21/this-group-of-americans-will-most-likely-get-the-biggest-tax-refunds-experts-say.html

@errr @SaremChuuk @SakaSaka @IronYouth @visafree @redsnapper @FactsMatters - Take advantage of the tax cuts my liberal friends. It was enacted with people like y'all on mind.

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