The tax filing season is now in full swing, with the Internal Revenue Service (IRS) anticipating 164 million individuals will submit their returns by the April 15 deadline.
Last year, the average refund stood at $3,167 but analysts have projected it could be $1,000 higher this year, largely due to recent changes in tax legislation. Over 165 million individual income tax returns were processed in the previous year, with a significant 94 per cent filed electronically.
