1. Tax refund changes in 2019
Tax law changes introduced in recent reform packages significantly altered how households calculate tax refunds. Analysts projected larger aggregate refunds, with potential for noticeable increases for specific family filing profiles.
Proper preparation is essential for filers wanting to optimize credits, deductions, and overall filing strategies.
2. Prepare for tax season smartly
E-filing combined with direct bank account deposit remains the fastest way to receive your refund check. Filing early also reduces identity-theft risks, as identity thieves often target delayed filers with fraudulent returns.
Smart Prep Checklist:
- Gather all W-2s, 1099-INT/DIV, and 1098-E student loan interest statements.
- Consolidate medical, charitable, and childcare expense receipts.
- Opt for e-filing with direct deposit for 21-day average processing.
3. Who may get a bigger refund
Refund benefits from tax structure changes were not uniform across all taxpayers. Data showed that married households with children received stronger gains than many single filers at comparable income levels due to expanded child credits.
4. Why joint filers may benefit more
A key factor is the expanded child tax credit and related family provisions. Joint filing also preserves higher income thresholds before phase-outs restrict credit amounts.
5. Deductions no longer available
Several prior itemized deductions—such as un-reimbursed employee expenses, moving costs (except active military), and personal exemptions—were capped or eliminated. Understanding eliminated breaks prevents filing errors and unrealistic expectations.
6. 11 ways to maximize your refund
Core refund maximizers include:
- Selecting optimal filing status (Head of Household vs Joint).
- Claiming Child Tax Credits and Dependent Care Credits.
- Maximizing traditional IRA or 401(k) retirement contributions prior to tax deadlines.
- Claiming the Earned Income Tax Credit (EITC) if income qualified.
- Deducting Health Savings Account (HSA) contributions.
- Claiming student loan interest deductions up to $2,500.
7. Final thoughts
Maximizing a tax refund is about proactive planning, accurate documentation, and leveraging all allowable credits. If your return involves complex investments or business income, consult a licensed tax professional or CPA.
Using Your Tax Refund to Eliminate Debt?
Speak with our debt relief specialists to learn how applying tax refund lump-sums toward high-interest credit card debt can save you thousands in interest.
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Loretta Kilday, Esq.
Debt Relief Specialist & Spokesperson, DebtCC
Loretta Kilday, Esq., is an accomplished litigator and transactional attorney with more than 30 years of experience across consumer finance, debt collection, and credit management. DebtConsolidationCare features her as its spokesperson and public voice.