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b"If you're depending on\\xa0a tax refund this year to pay loans, make a down payment on a car or take a vacation, you might be out of luck.\\nAccording to the IRS, average refunds have\\xa0been lower compared\\xa0last year. If the trend continues, many Americans will end up with a smaller refund or worse \\u2014 they may owe the government. Residents in high-tax states, like New York and New Jersey could see a bigger swing because President Trump's tax code overhaul capped deductions for state and local taxes.\\nBut it doesn't mean\\xa0people paid more taxes overall. The amount the IRS withheld from each paycheck was lower, so many\\xa0people had a little more money\\xa0each time they got paid. But\\xa0it's a big change for those Americans who've become accustomed to pocketing some extra cash during tax season.\\nOn this episode of Money Talking,\\xa0Charlie Herman\\xa0talks to\\xa0Heather Long, economics correspondent for The Washington Post, about why this is happening and the political consequences it might have."