Average Tax Refunds Down 10%

table of IRS weekly dataReturns by tax pros are one of the only positives.

By Beth Bellor
CPA Trendlines Research

The average tax refund is down 10 percent, but it’s just part of a pattern. Virtually every piece of data the Internal Revenue Service reports weekly is in the red.

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The agency has received 90.1 million individual income tax returns as of March 31, the latest information available, down 1.3 percent from the same period in 2022. It has processed 89.7 million returns, up 0.4 percent.