PSA: Will I Get Less Tax Refund Money in 2022?

Let's be honest...a lot of us really depend on our tax refund. We use our refund money to make ends meet, pay off debt, or simply splurge and have fun. That brings us to a less fun topic — what happens if you receive less money than you expected on your tax refund?

The reality is, tax changes are coming next year, and we all have to be prepared.

So, what exactly is happening? Here's the deal:

2022 tax refunds will be smaller for many people.
Certain Covid-era tax cuts for low and middle earners are scheduled to end.
There are still some big unknowns about financial programs in 2022.

With new changes in place, this tax season may be unique, complicated and uncertain, which leads us to the next question…

What should you do to prepare?

Right now, you may not be sure if your tax refund will be on time, how much you'll receive in your refund, or how you'll handle this year's new tax changes. In other words, things are a little uncertain right now.

The best defense against tax refund uncertainty is to…

Keep your job: Have a paycheck you can count on to pay your bills, meet your needs, and help you win at life.
Stay informed: Be aware that taxes and government programs are changing fast.
Use your resources: Your Teammate benefits give you access to a wide range of affordable life tools — from healthcare to legal assistance — that will help you take care of your physical, mental and financial health. Use these tools to make the most of your money and plan for a bright future.

Your 2022 Tax Questions Answered

We can't help you do your taxes, but we can give you some important updates about next year's taxes so you can make the most informed decisions for yourself and your family. At the end of the day, we know your job, your finances, and your success are all tied tightly together. We also know life can be expensive, complicated and hard. We want to help equip every member of our team with the tools and information to win at work and in life and help you build your physical, mental and financial strength.

Below, we answer some of the biggest questions Teammates have about the upcoming tax season. But before you jump to that section, take a deep breath and relax, because as long as you stay the course by keeping your job and staying informed, you can deal with whatever tax changes come your way.

Conclusion

No matter what happens this tax season, if you stay in the game and keep coming to work, you'll get a paycheck you can count on. Not to mention, keeping your Ōnin job gives you access to unbeatable benefits that will help you make all your money go further.

We know everyone is dealing with various levels of change and uncertainty right now, which isn't easy. But we're a team, and in teamwork, there is strength. We can help each other gain access to the right tools and find the right information to make the best decisions and come out stronger than ever. We hope this information helped you do just that. Thanks for being on our team.