Here’s Why IRS Tax Refunds Are 6 Percent Bigger So Far This Year

The latest data from the Internal Revenue Service (IRS) show that the average tax refund amount this tax season is 6 percent higher than last year’s.

The Internal Revenue Service (IRS) building in Washington, on June 28, 2023. Madalina Vasiliu/The Epoch Times

The latest data from the Internal Revenue Service (IRS) show that the average tax refund amount this tax season is 6 percent higher than last year’s, with experts pointing to several likely factors, including a higher standard deduction and adjustments for inflation.

In its latest tax-filing season update, with data current as of March 15, 2024, the IRS has revealed that the average refund amount this year is $3,109.