(WHTM) — Some bad news from the IRS about this coming year’s tax season: the agency warns that refunds will be smaller for millions of taxpayers.

With stimulus checks well in the rearview mirror, you are probably looking forward to that federal tax refund more than you have in a few years. There is one problem: there is a good chance that it will be smaller than last year’s!

The IRS said that since there were no economic impact payments in 2022, no one will be able to claim any extra stimulus checks or missing child tax credits this time.

Millions of people claimed unpaid stimulus checks this past April.

In addition, it will be tougher than last year to claim charitable donations. In 2020 and 2021, congress allowed a tax break for $300 in donations or $600 for married couples. That break was not extended this year.

From the doesn’t that stink file, a controversial new rule requiring you to report side hustle payments of over $600.

In the past, most gig jobs would not report your earnings until you earned $2,000. Now, anything over $600 is reported, even if you are paid by Venmo, and that can really reduce your refund.

So, when you plan your home improvement project or travel budget for next year, keep in mind you may have a smaller refund to work with, so you don’t waste your money.