Tax filing deadline is April 18.
WASHINGTON DC - APRIL 2, 2020: United States Treasury check with US currency.The Internal Revenue Service is reporting the average tax refund – at least so far in the 2022 filing season – is up over last year.
Data from March 11 shows the IRS has processed 61.9 million returns and issued 45.3 million refunds worth some $151.93 billion. The average refund so far this year was $3,351, up 13%, or $385, over last year’s average of $2,967. The average amount will likely change in the coming weeks, the IRS noted, as the April 18 tax deadline approaches.
Most tax returns – some 61.6 million - were filed electronically. Of all the refunds, 43.95 million were issued via direct deposit. The agency said most refunds are issued within 21 days though the IRS has warned there could be substantial delays this year due to backlogged returns and personnel shortages.Filing electronically – It’s not only the most popular, but also the quickest way to get your refund.
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