If you think you’re getting a refund from the IRS, we’ve got good news for you.
The average tax refund this season is $3,120, according to the Internal Revenue Service. Not a bad little chunk of change, right?
The IRS also said that it had given out nearly $125 billion in refunds as of Feb. 20, and processed more than 50 million returns. That last figure accounts for about one-third of total individual federal income tax returns the IRS expects to receive this year.
So, our question to the other two-thirds of you is this – what are you waiting for? If haven’t yet filed, time is ticking toward the April 15 filing deadline. You should head to your tax preparer soon.
If you’re not sure what to bring with you, here’s a handy checklist.
And you can expect that refund pretty quickly if you e-file and choose direct deposit. The IRS says it issues most such refunds in less than 21 days.
Disclaimer: Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.