Feb 23, 2019

Average tax refunds down 16.7% in third week of IRS filing

IRS building. Photo: Saul Loeb/AFP via Getty Images

The average tax refund through the first three weeks of filing season is down 16.7% from the same period last year, according to IRS data cited by The Hill.

Yes, but: The IRS sent out a press release Friday evening to clarify this new data, saying that "comparing weekly data is misleading" and "isn't useful in drawing broad conclusions on refunds overall." 80% of Americans should have a lower tax bill this year as a result of the GOP tax cut, according to the Tax Policy Center.

The big picture: This is the third straight week that Americans, on average, have seen lower refunds. Democrats have seized on the issue as a sign that the GOP tax cut has not benefitted average Americans, but Trump officials have said the lower refunds are because most Americans are seeing larger paychecks throughout the year.

Go deeper: Trump's invisible tax cut

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Axios
Updated 52 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 19,655,445 — Total deaths: 727,353 — Total recoveries — 11,950,845 — Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 4,998,802 — Total deaths: 162,425 — Total recoveries: 1,643,118 — Total tests: 61,080,587 — Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid — Democrats, and some Republicans, criticize the move.
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.
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Felix Salmon
1 hour ago - Economy & Business

Elevator anxiety will stifle reopenings

Illustration: Aïda Amer/Axios

Will you step back into an elevator any time soon?

Why it matters: Tens of billions of dollars — and the future of cities around the country — rest on the answer to that question. So long as workers remain unwilling to take elevators, hundreds of billions of dollars' worth of office real estate will continue to go largely unused.

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Rebecca Falconer
Updated 6 hours ago - World

Brazil coronavirus death toll tops 100,000 and case numbers surpass 3 million

Brazilian President Jair Bolsonaro posted a photo of himself to Facebook congratulating his soccer team, Palmeiras, for winning the state title Saturday, moments after the health ministry confirmed the national COVID-19 death toll had surpassed 100,000.

Why it matters: Brazil is only the second country to confirm more than 100,000 deaths from the coronavirus. On Sunday morning, it became the second country to surpass 3 million cases, per Johns Hopkins. Only the U.S. has reported more. Bolsonaro has yet to address the milestones. He has previously tested positive for COVID-19 three times, but he's downplayed the impact of the virus, which has crippled Brazil's economy.

Editor's note: This article has been updated with the latest coronavirus case numbers and more context.