IRS tax refund delay update: How long it's taking to receive refunds during 2023 tax season
After weeks of warnings, many people aren't surprised to see that the average tax refund is a good deal smaller than a year ago.
The average refund was $2,903 — down 11% from a year ago — for early tax filers whose returns ended up being processed by the Internal Revenue Service through March 24. That's based on the latest IRS data posted online Friday.
Oddly enough, the IRS has issued about 1.5 million more refunds than last year — up 2.6% — during about seven weeks of the tax season.
Why the spike? It's a good question. More speculation on that later. To read more on that click here.