IRS says average tax refund is about 11% less this year
MIAMI - If you haven't filed your taxes yet, or filed for an extension, time is running out.
You only have about two weeks left and don't be surprised if your refund, if you're getting one, is smaller this year.
According to the Internal Revenue Service, 80 million Americans have filed their 2022 returns. So far, the government has issued $172 billion in refunds, about nine percent less than at the same time last year.
The average refund also dropped from about $3,200 to $2,900, or about 11 percent less. One reason for the decrease is that pandemic-era provisions, like the expanded child credit, have expired.
Still, the total number of people receiving refunds is up. According to the IRS, 59 million people have gotten a refund this year, about three percent more than last year.
Most Americans have until Tuesday, April 18 to file their taxes.