As tax season kicks into high gear, the Internal Revenue Service (IRS) has disclosed a decrease in the average tax refunds for 2024 compared to the previous year.
With more than 2.6 million refunds issued, totaling about $3.65 billion as of Feb. 2, taxpayers are getting an average refund of $1,395, experiencing a huge drop from the $1,963 average refund seen one year ago -- a decrease of approximately 29%.
