With Tax Day around the corner, more people are able to answer the question: Will I get a refund or do I owe?
The big takeaway: You could be surprised at how the new Tax Cuts and Jobs Act affects your bottom line.
ln fact, almost one-third of taxpayers who must pay up to the IRS this year received a refund last year, a new survey from personal finance website NerdWallet found.
One in 5 individuals owe additional money to cover their tax bill this year, the survey found. And 32 percent of those people received a refund last year.
NerdWallet estimates that 7.9 million people who received refunds last year could owe this year. Those who do have to pay $2,119 on average.
But there is good news for people who are getting refunds: They may be higher than you expected.
The average refund is $2,697, NerdWallet found. That's significantly higher than the $1,861 on average that individuals said they expected to get back in a separate poll in December.
About 60 percent of individuals who have prepared or filed their taxes will get a refund this year, according to NerdWallet.
