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Stimulus Update: 4 Reasons the IRS Predicts Smaller Refunds This Year. Spoiler: It Has to Do With Stimulus

Stimulus Update: 4 Reasons the IRS Predicts Smaller Refunds This Year. Spoiler: It Has to Do With Stimulus

Let's say a family of four moved, and the IRS needed their current address, thus causing them to miss out entirely on the $1,400 stimulus checks. Now that there is no stimulus and no recovery rebate credit, it's back to their usual refund amount. In a typical tax year, a parent can deduct $2,000 per child as a Child Tax Credit.