Tax season is coming to an end, you all know this by now. You also probably know that your refund – assuming you got one – didn’t quite measure up to expectations. Summer’s near and you’re still trying to catch up on bills and necessities because of this. You’re not alone. The most frequently asked question at Turbo Tax online is ‘why is my refunds smaller this year, or why didn’t I get one as opposed to last year?’ You can read most of the common reasons at the link, but there are additional factors at play this year. One of those factors is the Affordable Care Act, which enacts new taxes not only on individuals, but employers as well. This has had a significant impact on the way a lot of people have filed their taxes this year, not to mention the fact that many have been taxed because they did not purchase the mandated insurance by the deadline.

We know this is something of a political issue, and we aren’t all that interested in wading into the political foray, but the fact does remain that many people were hit with an unexpected tax either from the insurance purchase mandate section of the Affordable Care Act, or from the penalty that is assessed from not purchasing the mandated insurance. To be blunt: many people are short funds this year thanks to new tax regulations such as the previously mentioned Affordable Care Act.

There’s no question that it’s frustrating not getting as much money as you expected on your tax returns. Used to be a time when a tax refund was extra cash at a certain time of the year. Many people would invest it or go and purchase new items for themselves. But an increasing number of people are now relying on tax refunds to help pay off debt, or float through a transitional income-shortage.

The worst part is, here we are, several months after the tax filing deadline has passed and a lot of people are still trying to recover from the fact they didn’t get as much as they were hoping or expecting to in their refund. Worse still, many people find themselves owing taxes for the first time in their lives; people who can’t just up and pay a tax bill simply because the IRS has moved them into a taxable bracket.

We don’t like it, and we know you don’t either. If you find yourself still short and trying to recover after that unexpectedly small tax refund you got this year, come see us online at CASH 1 for Personal Loans for people with bad credit. We want to stress, however, that you should only get a personal loan to cover immediate expenses such as back-owed debt like a credit card or if you’re behind on your bills. We do not recommend a personal loan to pay off a tax bill. If you still owe the government money, call your local IRS office and they will work with you to get your tax bill settled.

Here’s hoping next year’s refund will be a better one.