Morning Report: Tax refunds will be smaller this year
Taxpayers should brace for a smaller refund this year. The average tax refund check so far this year is worth 2,878 dollars. That’s about 9 percent lower compared to the 3,305 dollar average recorded last year. One of the main reasons behind the drop in refund size is lack of extra tax credits or pandemic-related stimulus payments delivered by the federal government in 2022.
Southwest Airlines had another problem yesterday. A technical glitch led to departures being halted. About 1,700 flights were delayed while the airline fixed the situation.
Investors are digesting earnings.
Stocks were choppy and mostly closed lower.
The Netflix password sharing crackdown is still happening, but it’s taking awhile. The company says it will begin this spring. Netflix is adding an option for users to add people to their accounts, but didn’t say how much it would cost in the United States.