Average Tax Refund is Less Than $2,000 This Year

People have been ticked that the refunds that they have been getting have been SO LOW.

When you file your taxes for last year, you might not be happy with the amount that you are going to get back. According to WGRZ, the average refund for this year is around $1,741.

That amount is 13% lower than the average amount people were getting back last year. It is pretty interesting to see all the statistics that the IRS regularly updates. You can see some stats on what the numbers are including amount of direct deposits, average refund, amount of people who have filed through a tax professional vs. online and more. The IRS website is a comparison of data from year to year by the exact date.

Here are a few benefits that people are going to be getting this year as they do their taxes.

• The IRS will allow you to file for free, if your adjusted gross income was $79,000 or less in 2023.
• The energy credits have changed so there is no limit. "So now windows are worth $600, new doors could be worth up to $500, a furnace up to $600, air conditioning up to $600, as long as they're high energy efficient," Chris Fabian, of EG Tax said.
• Some electric cars will get you a $7,500 credit.

Fabian added: "The federal government adjusted the circular E, which controls your federal withholding through your paycheck. So what they did was give people more money each paycheck instead of waiting for it until you file your taxes, so a single person who normally gets $1,500 back is only getting about $100 back this year. If not, some of them even end up owing $100, so that's a big change. Even married couples, it's impacting their returns, and it's impacting everybody, so yeah, there is a major decrease in refunds this year."