Michigan Matters: Putting A Spotlight On Eye-Opening Tax Season
Southfield (CBS Detroit) - Millions of Michiganders and Americans filling out their 2018 taxes will likely be surprised to learn their refunds will be less than expected or that they owe thanks to changes in federal laws adopted by Congress in 2017.
Susan Tompor, Personal Finance Columnist at Detroit Free Press, talked with Carol Cain, MICHIGAN MATTERS Senior Producer & Host, about those changes.
Tompor mentioned how new federal changes will impact young adults, seniors and families with children in particular.
The IRS issued early results of filers from 2018 and on average filers' tax refunds are about $170 lower than last year ( $1,865, down from $2,035 year before).
On other topics, as General Motors offers buyouts to thousands of salaried workers as it pares its workforce, Tompor shared insights into what people being impacted might want to know or consider.
Then on the roundtable, former Sen. Carl Levin (now Senior Counsel at Honigman LLP), Denise Ilitch, CEO of Ilitch Enterprises and Regent at UM, and Robert Ficano, former Wayne County Executive and now professor at Wayne County Community College District) talked about Gov. Gretchen Whitmer's State of the State speech.
As expected roads and education gained much attention during her hour-long inaugural address delivered Tuesday night.
Levin, Ilitch and Ficano (who each teach or lecture at area colleges) discussed Whitmer's stated goal of 60 percent of Michiganders having secondary college degrees by 2030.
Levin also talked about the late Cong. John Dingell, who died last week at the age of 92. The roundtable talked about his legacy and stature as the nation's longest serving Congressman.
Finally the roundtable weighed in with predictions for the upcoming men's basketball match-up next Sunday afternoon between Michigan State and University of Michigan being played in Ann Arbor.
Watch MICHIGAN MATTERS Sunday at 11:30am on CBS 62
