--- title: Why Is My 2018 Tax Refund Less Than Prior Years? description: Tax refunds are less than prior years and here is why! image: https://blog.brixeyandmeyer.com/hubfs/UPDATE-5.png --- [![Brixey Meyer](https://blog.brixeyandmeyer.com/hs-fs/hubfs/raw_assets/public/Brixey_and_Meyer_January2023/images/Brixey-white.png?width=3092&height=1080&name=Brixey-white.png "Brixey Meyer")](https://www.brixeyandmeyer.com/) - [Home](https://www.brixeyandmeyer.com/) - [Our Services](https://brixeyandmeyer.com/#headline-143-59) - [Audit & Assurance](https://www.brixeyandmeyer.com/audit-and-assurance) - [CFO Services](https://www.brixeyandmeyer.com/cfo-services) - [Cyber Risk Management](https://www.brixeyandmeyer.com/cyber-sure) - [Environmental, Social & Governance](https://www.brixeyandmeyer.com/environmental-social-governance-services-esg) - [Human Resources](https://www.brixeyandmeyer.com/human-resources) - [Operations, Technology & Strategy](https://www.brixeyandmeyer.com/operations-technology-strategy) - [Retirement Plan Administration](https://www.brixeyandmeyer.com/retirement-plan-administration) - [State & Local Tax](https://www.brixeyandmeyer.com/state-local-tax) - [Tax Compliance & Consulting](https://www.brixeyandmeyer.com/tax-compliance-and-consulting) - [Transaction Advisory](https://www.brixeyandmeyer.com/transaction-advisory-services) - [Valuation](https://www.brixeyandmeyer.com/valuation-services) - [Insights](https://blog.brixeyandmeyer.com/) - [About](https://brixeyandmeyer.com/?page_id=206) - [About B&M](https://www.brixeyandmeyer.com/about-bm) - [Our Team](https://www.brixeyandmeyer.com/our-team) - [Join Our Team](https://www.brixeyandmeyer.com/join-our-team) - [Contact](https://www.brixeyandmeyer.com/contact) - [Get Started](https://www.brixeyandmeyer.com/get-started) - [Client Portal](https://www.clientaxcess.com/#/login) - [Make a Payment](https://secure.cpacharge.com/pages/brixeyandmeyer/payments) - [Home](https://www.brixeyandmeyer.com/) - [Our Services](https://brixeyandmeyer.com/#headline-143-59) - [Audit & Assurance](https://www.brixeyandmeyer.com/audit-and-assurance) - [CFO Services](https://www.brixeyandmeyer.com/cfo-services) - [Cyber Risk Management](https://www.brixeyandmeyer.com/cyber-sure) - [Environmental, Social & Governance](https://www.brixeyandmeyer.com/environmental-social-governance-services-esg) - [Human Resources](https://www.brixeyandmeyer.com/human-resources) - [Operations, Technology & Strategy](https://www.brixeyandmeyer.com/operations-technology-strategy) - [Retirement Plan Administration](https://www.brixeyandmeyer.com/retirement-plan-administration) - [State & Local Tax](https://www.brixeyandmeyer.com/state-local-tax) - [Tax Compliance & Consulting](https://www.brixeyandmeyer.com/tax-compliance-and-consulting) - [Transaction Advisory](https://www.brixeyandmeyer.com/transaction-advisory-services) - [Valuation](https://www.brixeyandmeyer.com/valuation-services) - [Insights](https://blog.brixeyandmeyer.com/) - [About](https://brixeyandmeyer.com/?page_id=206) - [About B&M](https://www.brixeyandmeyer.com/about-bm) - [Our Team](https://www.brixeyandmeyer.com/our-team) - [Join Our Team](https://www.brixeyandmeyer.com/join-our-team) - [Contact](https://www.brixeyandmeyer.com/contact) - [Get Started](https://www.brixeyandmeyer.com/get-started) ![](https://blog.brixeyandmeyer.com/hubfs/UPDATE-5.png) # Why Is My 2018 Tax Refund Less Than Prior Years? Published by [Steve Hood](https://blog.brixeyandmeyer.com/author/steve-hood) on Feb 15, 2019 10:19:27 AM ![UPDATE-5](https://blog.brixeyandmeyer.com/hs-fs/hubfs/UPDATE-5.png?width=564&name=UPDATE-5.png) The biggest thing you hear in the news today is that individuals are getting lower refunds on their 2018 Returns compared to prior years.  When the new tax law, Tax Cuts and Jobs Act, was passed it lowered federal income tax rates and adjusted the tax tables. It suspended Personal Exemptions, which were replaced with higher Child Tax Credit. The Tax Act, also, raised the standard deduction, so less taxpayers will be itemizing. The above items are some of the factors that could result in lowering individual federal income taxes that would be owed to the IRS. **Then why are refunds lower?** On February 1, 2018, the IRS changed the Withholding Tables to reflect the tax reduction. These tables gave Taxpayers more money to spend throughout the year and also gave the government less interest free loans. This resulted in lowering their normal tax refund, which is great news for taxpayers during 2018 but may result in some surprises when filing their 2018 tax returns.   I If you would like to speak to one of our tax specialists for more information, please call: 1 (866) 760-0940 or send a note to [Miranda.Hawk@brixeyandmeyer.com](mailto:Miranda.Hawk@brixeyandmeyer.com) to setup a time to speak.   Tags: [brixey and meyer](https://blog.brixeyandmeyer.com/topic/brixey-and-meyer), [Tax](https://blog.brixeyandmeyer.com/topic/tax), [Tax Team](https://blog.brixeyandmeyer.com/topic/tax-team), [tax reform](https://blog.brixeyandmeyer.com/topic/tax-reform), [Steve Hood](https://blog.brixeyandmeyer.com/topic/steve-hood), [New Year](https://blog.brixeyandmeyer.com/topic/new-year), [2018](https://blog.brixeyandmeyer.com/topic/2018), [2018 Tax Return](https://blog.brixeyandmeyer.com/topic/2018-tax-return) [Back to Blog](https://blog.brixeyandmeyer.com) - [Tweet](https://twitter.com/share) ## Related Articles ## [Small Businesses Can Benefit From Deducting Vehicle Costs on Their Taxes](https://blog.brixeyandmeyer.com/small-businesses-can-benefit-from-deducting-vehicle-costs-on-their-taxes) Businesses that use a car or other vehicle may be able to deduct the expenses of operating that... [Read More](https://blog.brixeyandmeyer.com/small-businesses-can-benefit-from-deducting-vehicle-costs-on-their-taxes) ## [IRS Announces New Mileage Rate For 2023](https://blog.brixeyandmeyer.com/irs-raises-mileage-rates-for-2023) In December 2022 the Internal Revenue Service issued the standard mileage rates for 2023. [Read More](https://blog.brixeyandmeyer.com/irs-raises-mileage-rates-for-2023) ## [IRS Raises Mileage Rates for 2022](https://blog.brixeyandmeyer.com/irs-raises-mileage-rates-for-2022) The IRS issued the 2022 optional standard mileage rates which are used to calculate the deductible... [Read More](https://blog.brixeyandmeyer.com/irs-raises-mileage-rates-for-2022) ![Brixey and Meyer full logo in white](https://blog.brixeyandmeyer.com/hs-fs/hubfs/raw_assets/public/Brixey_and_Meyer_January2023/images/Brixey-white-2048x1104.png?width=2048&name=Brixey-white-2048x1104.png "Brixey and Meyer full logo in white") # TOLL FREE: 866.760.0940 [facebook](https://www.facebook.com/brixeyandmeyer) [instagram](https://www.instagram.com/brixeyandmeyer/) [twitter](https://twitter.com/brixeymeyercpa) [linkedin](https://www.linkedin.com/company/brixey-%26-meyer-inc-/) © Copyright 2023 | Brixey & Meyer | [Privacy Policy](https://www.brixeyandmeyer.com/?page_id=657) [Terms & Conditions](https://www.brixeyandmeyer.com/?page_id=660) #### CINCINNATI 1111 St. Gregory St. - 5th Floor Cincinnati, OH 45202 (P) 513.752.8350 (F) 513.752.8359 [Directions](https://www.google.com/maps?ll=39.108239,-84.498017&z=15&t=m&hl=en&gl=US&mapclient=embed&cid=18167754144114867471) #### COLUMBUS 485 Metro Place South - Ste 400 Dublin, OH 43017 (P) 866.760.0940 (F) 937.291.4120 [Directions](https://www.google.com/maps/place/Brixey+%26+Meyer/@40.092261,-83.128295,15z/data=!4m5!3m4!1s0x0:0xcbc7d79035d43ea9!8m2!3d40.0922607!4d-83.128295?hl=en) #### DAYTON 2991 Newmark Dr. Miamisburg, OH 45342 (P) 937.291.4110 (F) 937.291.4120 [Directions](https://www.google.com/maps?ll=39.626765,-84.212641&z=15&t=m&hl=en&gl=US&mapclient=embed&cid=13243381803114682640)