IRS: Fewer Americans Are Getting Refunds This Year

The number of refunds issued this year so far has declined about 3.3 percent, according to the Internal Revenue Service (IRS) in an update released before the filing deadline on April 15. Meanwhile, a poll suggests that the number of people paying more to the IRS could be on the rise. The IRS data showed that 66.8 million taxpayers received an IRS payment through April 5, 2024, as compared to 69.1 million who got refunds by the same time last year. This means that 2.3 million fewer Americans got a boost to their bank accounts this season. However, the amount issued per refund increased this year. The average refund for this filing season totaled $3,011, while 2023’s average amount was $2,878....