Americans’ Tax Refunds Are Nearly 11 Percent Smaller This Year, Early IRS Data Show

A 1040 form used by U.S. taxpayers to file an annual income tax return in a file photo. Joe Raedle/Getty Images

Early IRS data show that Americans’ tax refunds so far this year are smaller than they were last year, a phenomenon that was predicted by the agency and tax experts.

As of Feb. 3, the average refund amount stood at $1,963, or down about 10.8 percent from the year-ago period, when it was $2,201 on average, the IRS data show.