Average tax refund increases

The average income tax refund is up nearly 10% from a year ago according to IRS Commissioner Douglas Shulman. Through March 12, the average tax refund was a record $3,036, up $266 from the same period a year earlier.

Lynne says, “This means that taxpayers are overpaying their taxes by $250 each month. This is $250 that can’t be spent, invested, or saved each month.”

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