Early tax-refund checks sent by the IRS in 2023 have been 11 percent lower than those sent during this time in 2022, from $2,200 on average to $1,963.
It has been exactly one month since the Internal Revenue Service started accepting tax returns for the 2022 tax year on January 23. Early data shows that the checks sent out so far in 2023 are a lot lower than they were on average last year.
A stock image of a woman filling in a tax return. People have been warned to expect less money in refunds from the IRS this year."If you look at the statistics this year and compared to last year, there are more returns that have been filed this year than last year, and maybe almost 50 percent more refunds paid this year than last year," Mazur said. In 2021, he served as assistant secretary for tax policy in the U.S. Department of the Treasury under the Biden administration.
Also, this year,"the filing season is better than last year," he added."There are fewer legislative changes that affect individual taxpayers to be incorporated. So, it's a little bit calmer, and people maybe just getting a slightly earlier start."
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