The effects of 2018鈥檚 tax changes are starting to become obvious around the U.S. If you expected a big refund from your tax filing and didn鈥檛 get one, you are not alone. So far, the average tax refund amount has dropped by 17% this year.

This drop can have a big impact on people who count on their refund to cover bills and expenses. The effect can be even worse if you discover that you actually owe the Internal Revenue Service (IRS) thousands of dollars.

Expected a big refund from your tax filing and didn't get one?

So, what happened to your tax refund this year? And what can you do to make up for the funds you expected to get?

Why Didn鈥檛 You Get a Big Refund This Year?

The 2017 Tax Cuts and Jobs Act brought about some big changes to the tax code in the U.S. Your tax refund may be smaller than expected because the Act:

路 聽聽聽聽聽聽聽聽Eliminated Some Deductions

路 聽聽聽聽聽聽聽聽Reduced Other Deductions

路 聽聽聽聽聽聽聽聽Adjusted Tax Brackets

路 聽聽聽聽聽聽聽聽Removed Some Exemptions

While the standard deduction was increased, it wasn鈥檛 enough for many families in the U.S. Tax refunds may have also been low if you did not adjust your W-4 form at work. In fact, it鈥檚 estimated that a significant portion of tax-payers didn鈥檛 withhold enough and ended up owing money to the IRS this year.

Can You Improve Your Refund for the 2019 Tax Year?

You can take steps to prevent a lower refund next year by making sure you adjust your withholding on your W-4 at work. Check out the W-4 Calculator offered by the IRS to ensure you are withholding the proper amount to cover your:

路 聽聽聽聽聽聽聽聽Income

路 聽聽聽聽聽聽聽聽Dependents

Making these adjustments can help you avoid a subpar refund for the 2019 tax year, so make sure you speak with your employer about W-4 adjustments. You should also monitor any additional adjustments to the tax laws, as they could have further impacts on your refund.

What Can You Do to Make Up for a Small Refund in 2018?

Planning to boost your tax refund for the 2019 tax year can be important, but what about this year? Many tax payers were counting on their refund to cover expenses. You can be stuck with debt you don鈥檛 have the money to pay. In some cases, you might even be facing additional debt if you owe the IRS money.

Fortunately, you have options to get the funds you need to cover for a small tax refund in 2018. If you needed a big refund and didn鈥檛 get it, you could turn to:

路 聽聽聽聽聽聽聽聽A Car Title Loan

路 聽聽聽聽聽聽聽聽A Home Equity Loan

路 聽聽聽聽聽聽聽聽A Credit Card Loan

路 聽聽聽聽聽聽聽聽A Personal Loan from a Bank or Credit Union

The exact loan you choose will depend on your circumstances. Some of these loans allow you to get funds in a day or two. Some have low interest rates and require you to have excellent credit, like personal loans. Other loans will not require perfect credit, like title loans.

Recover from an Unexpectedly Low Tax Refund

Expected a big refund from your tax filing and didn't get one?

You have options to get the funds you need to handle a low tax refund in 2018. Look into your options for loans to cover any debt you may be experiencing today. You can also start planning now to aim for a higher tax refund for the 2019 tax year.

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