80 percent of people missed a step related to taxes in 2018, and it could affect their refund

By Kathleen Elkins

If you’re among those who didn’t, you could get a smaller refund than you anticipated. You could even owe money to the IRS.

“Taxpayers who were most affected by tax reform should have made updates to their W-4 in early 2018,” Eric Bronnenkant, head of tax at Betterment, tells CNBC Make It. That group includes filers who itemize and households with dependents, for example. “If they did not, they may be in a position currently to owe [the IRS] additional amounts, plus possible interest and penalties.”

This article originally published January 30th, 2019 on CNBC