Taxpayers grapple with deflated refunds as economy shows signs of slowing

Americans will receive significantly smaller tax refunds this year.
High inflation and the loss of pandemic relief policies have reduced refund amounts by about 10% compared to last year.
of taxpayers report concern over diminished refunds, which many rely on to manage seasonal business expenses.
Experts recommend adjusting tax withholdings to avoid refund shortfalls next year.
Reduced refunds indicate slowing consumer spending and economic growth overall.