Internal Revenue Service data of returns filed by Feb. 3 indicate refunds are smaller this year than last tax season.
The data mean of the 8 million refunds processed in the early weeks of tax season, the average refund was $1,963, a $238 decrease from this time a year ago.
The net result is that the U.S. has paid out nearly $16 billion in refunds compared to $10 by this point a year ago. The IRS said the next two weeks are when they are fielding the most questions. The agency said it recommends taxpayers use the IRS’ website before calling with questions.
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