IRS refunds in 2024 fall and some people are being asked to pay up

The new personal income tax tables that came into force this month will give practically all employees and pensioners a greater net monthly gain, through a reduction in withholding tax. However, as there is no effective relief from the tax burden, this means a drop in the value of refunds or even the need to return money to the state when the tax is paid in 2024, in relation to this year's income, according to simulations carried out by the consultancy Ilya for JN/Dinheiro Vivo. Statements by Paula Franco, member of the OCC.