Updated at 4:39 p.m. ET
President Trump promised that his tax changes, passed in 2017, would give most Americans a tax cut.
However, as the first federal returns for 2018 come in, some taxpayers are discovering an unpleasant surprise: Their refunds are smaller than expected. In fact, as of Feb. 1, the average refund is down by about 8 percent from the same time last year, according to the IRS.