IRS reports tax refunds down 32 percent from same time last year
By Lexi Lonas - 03/11/21 06:02 PM EST The IRS reported Thursday that total tax refunds are down 32 percent from the same time last year almost a month after the filing season began.
The drop in tax refunds could be due to filing season starting two weeks later than normal as almost 18 percent fewer people have filed their returns so far compared to last year, data from the IRS show.
The number of direct deposit refunds that have gone out is also down 26 percent compared to last year.
The average refund amount from the IRS is only down by 3 percent so far going from $3,129 last year to $3,036 this year.
Top House Democrats want the IRS to push back the tax filing deadline as it did in 2020, saying that Americans are still facing health and economic issues from the coronavirus pandemic.
more
https://thehill.com/policy/finance/542844-irs-reports-tax-refunds-down-32-percent-from-same-time-last-year
