The IRS released the average tax refund payments recently. So far, the Internal Revenue Service has received more than 80,470,000 tax returns. If compared to the 2023 figures, there is just a slightly lower number of returns.
Although the IRS has had enough to process most 2023 tax returns, not all of them have gotten their money yet. When the Internal Revenue Service needs to review a case, it may take much longer to sort out payments.
WHAT ARE THE AVERAGE PAYMENTS SENT BY THE IRS?
As of March 22, 2024, the average tax refund amount is worth about $3,081 stated the IRS. For your information, the 2022 tax refunds were just $2,903 as of March 24, 2023.
If the average tax refund is higher, it means taxpayers will enjoy larger payments. This will be essential because American families are running out of savings due to inflation and soaring prices.
Actually, the IRS claims that the average tax refund has gone up by 6.1% in 2024. Undoubtedly, this is a great boost. But what about the average direct deposit refund amounts in 2024?
IRS CONFIRMS THE AVERAGE DIRECT DEPOSIT AMOUNTS IN 2024
When it comes to direct deposits, the figures the Internal Revenue Service has revealed are even better. So far, the average direct deposit refund amount is $3,152.
Therefore, it is still more money than those who did not opt for a direct deposit. Paper checks are still available, but they can be lost or they could take much longer to arrive.
If you are in a difficult financial situation, make sure your tax return is accurate and complete. In this way, you will save time. Requesting the IRS to send you a tax refund by direct deposit can allow you to get your money faster. Of course, file electronically or you will have to wait for too long.
