Millions of Americans may be getting smaller tax refunds – or none at all – this year.
The IRS says that's because a new W-4 Form went into effect in 2020. Officials say the new withholding form was intended to "more accurately reflect people's tax liabilities" and, yes, to minimize refunds.
So, if your take-home paycheck was slightly bigger last year, it may be at the expense of your refund this year.
Source: TurboTax