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Friday, March 22, 2019

Look at the average IRS refund this tax season

Look at the average IRS refund this tax season



After the initial frustration of the taxpayers of the refund amounts, Opens in New Window opens the Internal Revenue Service new window. (IRS) says the average check opens a new window. Opens in New Window The size of the 2018 season is the same as last year.


According to data released by the tax agency this week, the average refund was about $ 2,957 as of March 15. At the same time last year, the average was $ 2,960.

The total number of refunds is still 3% lower than last year.


The Agency received about 75.8 million returns, while 73.5 million were processed.


During the first few weeks of this year's tax season, many creditors expressed frustration at smaller or non-existent recovery operations - some of which were owed to the agency for the first time. The data opens a new window. Released by the IRS early on showed a decline in the average refund of money, causing some people to question the effectiveness of the tax law cuts jobs.


However, the Treasury Department has consistently warned that the size of a person's response is separate from whether his or her tax liability has increased or decreased.


In general, Treasury officials said they expected fewer Americans to recover this year than last year. However, they said most Americans still expect to see a net tax benefit as a result of the passage of the Jobs and Jobs Reduction Act.


Look at the average IRS refund this tax season
Look at the average IRS refund this tax season