The IRS warns that tax refunds will be significantly lower this year, with the average refund amount as of February 2 down 28.9% from the same period last year. Various reasons are causing delays in tax refunds this year, leading to consumer concerns similar to those experienced in 2019.
Sources
unusual_whales
Tax refunds are markedly smaller so far this year than the same time a year ago, according to the early data from the IRS + YahooFinance. The average refund amount was $1,395 as of Feb. 2, down 28.9% from $1,963 for the same period last year, the IRS reported.
CNET For a Quicker Tax Refund, Don't Forget to Do This When You File https://t.co/iYty6pDejm
KRON4 News There are multiple reasons your tax refund could be delayed this year past the normal time: https://t.co/fv9uALBary
Additional media
