Average refunds are down by double digits.
By Beth Bellor
CPA Trendlines Research
More people have gotten tax refunds in 2023, but fewer dollars have gone out. This is as the IRS kicks back refunds nearly as fast as it receives returns.
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As of March 10, the latest data available, the IRS had received 63.4 million individual income tax returns, down 0.1 percent from the same period in 2022. It had processed 63.2 million returns, up 2 percent, for an impressive 99.6 percent completion rate.
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