With weeks to go before the April 18 deadline, the majority of the nation’s 168 million tax filers are once again scrambling to download software, organize receipts and call their accountants for last-minute help.
Procrastinators may find what early filers already know: Tax year 2022 is not producing as many happy returns as in previous years due to a number of changes, including the expiration of some pandemic-era tax breaks.
“People will be getting smaller refunds on average because of that,” said Dan Rahill, a longtime Chicago tax partner and past chairman of the Illinois CPA Society, who now serves as a wealth strategist at Wintrust Wealth Management.
