It was pretty much a wash. That being said, we were not impacted by the problem that most working people are going to be hit by, that is that they didn't change their withholding which will mean that they will either get a smaller refund then expected or may even have to pay additional taxes. Since none of our income comes from wages, we never had to file a W4 form, but rather we have direct control of how much taxes are withheld from our pensions and IRS distributions, so I had just enough withheld so that we're getting back modest refunds (about $1,300 total between state and federal). However, most people are going to be hit by the fact that the Treasury department rigged the default withholding for the vast majority of Americans so as to give them the false impression that the Trump 'tax cuts' were bigger then what they really were, a sort of 'bait & switch' scheme. People are just now starting to realize that this happened and they are not happy at all:
Why millions of people are getting hit with a surprise tax bill this year
An effort to make the tax bill look better ended up making it look worse.
http://www.vox.com/policy-and-politics/2019/2/6/18214039/irs-tax-refund-withholding-trump
OCU
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