economy
Average IRS tax refund is up 10.8%, new filing data shows
The average IRS tax refund is up 10.8%, based on new filing data. Here's what you can expect.
TL;DR
- The average tax refund is 10.8% higher so far this season compared to last year.
- As of March 13, the average refund was $3,623, up from $3,271 a year ago.
- Rising gasoline prices could offset the increase in tax refunds.
- The national average gasoline price reached $3.91 per gallon on Friday, up from $2.93 one month ago.
- The increase in refunds is partially attributed to the earned income tax credit and the additional child tax credit (ACTC).