The average tax refund is almost 29% lower this tax season, early IRS statistics show
Source: Market Watch
The IRS is writing smaller refund checks, on average, at the start of this year’s income-tax-filing season, according to new numbers from the tax agency. Federal income-tax refunds are averaging $1,395 so far, according to Internal Revenue Service numbers released Friday on the filing season that started less than two weeks ago.
That’s an almost 29% decrease in the size of the average refund year over year, compared with the first batch of data on last year’s income taxes. But just breathe, taxpayers. There are several reasons why the refund picture is not as grim as it might seem.
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