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Hold onto your W-2s!
The 2024 election could shake up your tax refund faster than you’re free to say 1040-EZ.
GOBankingRates spoke with financial experts to get the lowdown onwhat your wallet might expect.
With Kamala in office, you could see your refund shrink beyond 2025, he cautioned.
In other words, those tax breaks youve been enjoying?
They might be heading for the sunset, and Harris might not be rushing to extend them.
That alone would significantly reduce the amount of money returned.
A Silver Lining for Lower Incomes?
If youre on the other end of the income spectrum, Harris tax policies might he helpful.
Cirksena points out a potential bright spot in Harriss tax philosophy.
TheEarned Income Tax Credit(EITC) is designed to give a financial boost to low to moderate-income workers.
If Harris pushes for an expansion of this credit, it could mean bigger refunds for anyone who qualifies.
Paul Tyler, CMO at Nassau Financial Group, reminds us of the elephant in the room.
Basic economics unfortunately wont change regardless of who wins the presidential elections, Tyler said.
Remember, tax laws are as changeable as the weather in April.
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