The IRS says tax filing numbers are still down, but average refund dollars are up
showing fewer returns filed and smaller refunds issued. Numbers from the Internal Revenue Service have remained low since the open, but this past week they’ve finally ticked up where it matters to taxpayers: Average tax refund dollars are up. 49,923,000 individual income tax returns. That compares with 51,740,000 individual income tax returns received by the same time last year, a drop of nearly 4%.
Those numbers may reflect some very early earned-income tax credit or the additional child tax credit payments. By law, the IRS can’t issue refunds to taxpayers who claimed EITC and ACTC before February 15.
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As Tax Season Rolls On, IRS Still Reporting Fewer Returns & Smaller RefundsThree weeks into the tax filing season, numbers from the Internal Revenue Service (IRS) continue to show fewer tax returns filed and smaller tax refunds issued.
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Shrinking tax refunds are a growing problem for GOP tax lawMost Americans will pay less in taxes for the last year after the legislation's across-the-board cuts. But little-noticed withholding adjustments and other changes have so far led to lower average refunds that have angered taxpayers.
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