KANSAS CITY, Mo. -- Are you expecting a tax refund? Do you know why that happened? It is because tax filing time is simply time to settle up with the IRS (and states) regarding your income taxes for the previous year. Your tax liability is what it is. Your refund or amount owed is simply the difference between what your liability is and what you paid in.
Financial expert Kathy Stepp of Stepp and Rothwell visited FOX 4 to explain more on why it's not necessarily a good thing to get a refund back.