Trump’s 2019 Budget Could Delay Tax Refunds

President Donald Trump’s new budget might subject your tax refund to another level of scrutiny before you receive it.

The president released his budget Monday for the 2019 fiscal year, proposing a $11.1 billion for the Internal Revenue Service, including $2.3 billion for tax filing and compliance applications and $110 million to modernize the agency’s computer systems.

Trump’s budget also includes a handful of proposals to strengthen its enforcement efforts, which may place an obstacle between you and your tax refund in future years.



For instance, the IRS would have the authority to “correct more errors on tax returns before refunds are issued,” according to budget language.

How exactly the agency will scrutinize filers’ returns isn’t detailed in the budget, but the White House said this move “would keep refunds from being issued to taxpayers who are not eligible.”

This proposed change would reduce the federal deficit by $305 million between 2019 and 2023, according to the budget proposal.

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza