Although 3 in 4 Americans will get a tax refund from the IRS this year, not all refunds are equal.
The biggest tax refunds are found in Wyoming, where residents on average received $5,027, based on the most recent data available, which is from 2019. The second biggest tax refunds went to residents of Connecticut, with an average check of $4,461, while New York residents on average got $4,444, placing the Empire State in third place, the analysis found. The range in tax refunds stems from differences in income, according to LendingTree chief credit analyst Matt Schulz.
"One of the things that you notice when looking at this report is that you do tend to see higher income states and lower income states kind of glued together in a lot of ways," Schulz said. Wyoming, though, has a lower median household income than either Connecticut or New York, according to the Federal Reserve Bank of St. Louis. Median household income in Wyoming is about $65,000, compared with about $79,000 for Connecticut residents. But Wyoming also has one of the nation's, with a concentration of extremely wealthy residents clustered in towns like Jackson Hole.
On the other hand, residents in lower-income states tend to see lower average refunds. With less money to send the IRS in each paycheck, they tend to get less back at tax time. Maine residents receive the lowest refunds, at $2,752, while other states with lower-than-average refunds include Oregon, Vermont and Iowa. Although most Americans receive a refund, a significant share of taxpayers end up owing the IRS — about 21% of taxpayers end up sending the tax agency a payment.
As with refunds, the biggest payments by state are tied to income. Massachusetts residents had the biggest payments, according to Lending Tree data, with an average tax bill of $7,605. Wyoming residents had the second-biggest tax bills, at $7,541. Washington state residents ranked third, owing an average of $7,145.
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