Steve Andrews

Steve Andrews

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IRS reports average refunds are lower but a "good start" to tax season

This year I decided I wanted to get my taxes filed early so it's over and done with. I'm going to see my accountant today. My kids are grown and I don't have much mortgage interest so I'm not expecting much of a refund. As far as the rest of the country goes, the IRS reported on how tax filing season this year is going yesterday. Here's a quick look at what they said: So far the average tax refund has been about $500 less than last year's. Last year's average was $2800 this year it's been about $2300. This could be in part because part of the child tax credit was paid out in advance. If you have an uncomplicated return, file electronically and use direct deposit your refund should come in about 21 days. This year the IRS added 1,200 staff members from other departments to process individual returns. Over 16 million Americans have already filed and about 13 million of those returns have been processed. So it looks like they're doing a pretty good job keeping up. 160 million Americans are expected to file individual returns this year. Which means only 10 percent of us have filed so far.

NJ.COM

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Photo: Getty Images


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