Changes to the federal tax code may mean smaller refunds for many Americans this year.

The Internal Revenue Service says the average tax refund is down 8.4 percent, dropping from just over $2,000 this year to $1,865 this year. Under the new tax code, deductions for state and local taxes, or SALT, are now capped at $10,000 -- a huge loss for homeowners in highly taxed counties like Westchester.

“If you weren't prepared for this, and you live paycheck to paycheck like a lot of people do, this could really hurt,” says Westchester certified public accountant Andrew Kabatchnick.

The refund is lower because withholdings from paychecks were lower throughout the year, Kabatchnick explains. But according to Kabatchnick, those upset with lower refunds are missing the bigger picture.

"Overall most people, even though their refunds are lower...their tax is also lower," Kabatchnick says. "Overall, people are paying less tax this year."