The average tax refund issued so far this year is $2,201, down about $600 from the typical refund issued last year, according to
In the first week of the filing season, the IRS received about 16.7 million tax returns and processed about 13 million of those, according to data for the week ending Feb. 4, released Friday. That’s a slightly lower rate than in the first week of filing last year. The agency has warned of slow processing times and delayed refunds, particularly for forms filed on paper or that contain errors, both of which require more attention from the IRS.
The data published Friday represents just a small portion of the filing season, which runs through April 18. So far, only about a quarter of people who have filed their tax returns have received their refunds.
The agency issued about 4.3 million refunds in the first week of the tax season, according to the data. The relatively low figure is at least partially due to a law that requires the IRS to conduct additional fraud checks on refunds containing the earned-income tax credit and hold those payments until at least Feb. 15.
Retailers and market analysts are closely watching both the number and size of refunds issued to Americans after the IRS has warned of a chaotic tax season that could result in delays for households in receiving their refunds.
Some tax preparers have also said that some clients are surprised to find that their anticipated refunds are smaller than they have been in the past. Millions of Americans received unemployment benefits in 2021, which are taxable. In addition, the IRS sent out half of the up to $3,600 child tax credit in advance, meaning that parents only get the remainder in their refunds.
