With the 2023 tax season well underway, the Internal Revenue Service is providing an early peek at the typical refund amount taxpayers can expect to receive.
The IRS said this week that it has issued about 8 million refunds as of Feb. 3, worth a collective $15.3 billion. The average refund check so far this year is worth $1,963 – about 11% lower compared with the same time last year.
That is in line with an earlier warning from the IRS for taxpayers to brace for a smaller refund this year because there were no stimulus payments delivered by the federal government in 2022. In 2021, the IRS delivered a third round of stimulus payments worth up to $1,400 per person. Eligible Americans could claim unpaid funds on their tax return.
Read more here: https://www.foxbusiness.com/money/irs-has-delivered-8m-tax-refunds-average-amount
