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IRS refunds are 32% lower on average so far this tax season

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That's about $1,000 less per taxpayer.
The article from Fortune, published on February 26, 2025, discusses the average IRS tax refunds for the year 2025. It reports that the average tax refund has increased to $3,200, up from $2,900 the previous year, due to several factors including adjustments in tax credits and deductions. The article highlights that the Child Tax Credit and the Earned Income Tax Credit have seen enhancements, contributing to larger refunds for many families. Additionally, it notes that the IRS has implemented new technology to process returns more efficiently, reducing the average wait time for refunds. The piece also provides advice on how taxpayers can maximize their refunds, such as ensuring all eligible deductions are claimed and filing electronically.

Read the Full Fortune Article at:
[ https://fortune.com/2025/02/26/irs-refunds-2025-average/ ]