If you got money back last year, you could owe this year. But there's good news: Those receiving refunds may see a bigger check than they expected.
With Tax Day around the corner, more people are able to answer the question: Will I get a refund or do I owe?
One in 5 individuals owe additional money to cover their tax bill this year, the survey found. And 32 percent of those people received a refund last year. Those who stand to get the biggest refund: millennials, who will get back $3,013 on average. In contrast, Gen Xers can expect to receive $2,944 and baby boomers should see $1,943.
"If you just stick with the normal process and wait for your refund from the IRS, you're likely to get it pretty quickly," Coombes said. "Getting a surprise tax bill is never fun," Coombes said."One of our key takeaways from this is to be sure to adjust your withholdings so you don't get a tax bill next year."
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