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The Independent UK
The Independent UK
Business
Katie Hawkinson

The 3 smartest things to do with your tax refund, according to experts

IRS
It’s important to have a plan for how to use your tax refund before you receive it, a financial planning expert says - (Getty/iStock)

Every tax filing season, millions of Americans receive tax refunds.

These are issued to taxpayers who paid more throughout the year than they owed, according to the Internal Revenue Service. More than 102 million refunds were issued this tax season, according to IRS data through October 17. The average refund amount was $3,052 in 2025, up slightly from $3,004 in 2024.

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