WASHINGTON D.C. – The Internal Revenue Service (IRS) released a groundbreaking report today, confirming what many economists and anyone who has ever filled out a tax form suspected: claiming a tax break can lead to paying less in taxes, and in some cases, receiving a larger refund. The agency noted that refunds for those utilizing recent deductions are averaging $775 higher this year, a phenomenon experts are calling 'predictable.'
“Our data indicates a strong correlation between taxpayers actively reducing their taxable income through legal means and a subsequent reduction in their tax liability,” stated IRS Chief of Statistical Anomalies, Dr. Evelyn P. Smith. “It’s almost as if the system is designed to reward specific behaviors, like, for instance, claiming a tax break.”
The report highlighted that over 40% of returns processed thus far have successfully leveraged at least one of the new deductions, leading to what sources close to the Treasury Department are calling a 'startling lack of surprise.'
“We’ve been trying to tell people for years that if you qualify for a deduction, you should probably take it,” added Smith. “But it seems some folks needed the IRS to officially confirm that the tax code isn't just a series of suggestions.”
In related news, a separate study is reportedly underway to determine if putting money into a savings account leads to having more money in that savings account.
