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Average Tax Refund Down $500 This Year
February 25, 2019 3:48PM EST
Did you get stuck with a smaller tax refund this year? You’re not alone. Refunds across the board are down by an average of $500 in 2019. According to the latest IRS data, the average 2019 refund is about $2,600, as opposed to more than $3,100 in 2018.
On top of that, about 26 percent fewer people are getting refunds this year. But analysts say many Americans are getting a smaller refund because more of that money was included in their paychecks throughout the year. They also warn that the numbers could change as more tax returns are filed.
