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Kiplinger
Kiplinger
Business
Katelyn Washington

Why Your Tax Refund Could Be Higher This Year

$100 bills in an envelope on a blue background.

The latest IRS data show that the average federal tax refund is approximately $3,182. That’s more than $140 (5.1%) higher than it was at this time last year. But that doesn’t mean everyone will get a bigger tax refund from the IRS this year. Here are some reasons your refund could be more — or less — than last year.

2024 tax refund

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