Is your tax refund too big? - CBS News

April 8, 2015 / 11:40 AM EDT / Credit.com. By Christine DiGangi/Credit.com. Taxpayers getting back money from the government this year have received an average refund of $2,893 so far, …

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Is Your Tax Refund Too Big? - CBS News

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April 8, 2015 / 11:40 AM EDT / Credit.com. By Christine DiGangi/Credit.com. Taxpayers getting back money from the government this year have received an average refund of $2,893 so far, …

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Tax Refunds Are Higher So Far This Year, The IRS Says. Here ... - CBS …

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Feb 26, 2024 · As of February 16, the average tax refund is $3,207, the IRS said in its latest tax season update. That's 2.1% higher than the same period a year ago. The bigger average refund marks a reversal ...

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2024 Tax Refunds Could Be Larger Than Last Year Due To New ... - CBS …

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Many Americans got a shock last year when the expiration of pandemic-era federal benefits res… The good news: People could see bigger refunds this year, with some potentially receiving 10% more than a year earlier, according to Mark Steber, chief tax information officer at Jackson Hewitt.Tax filing began today, with the IRS accepting tax returns starting January 29. Last year, the average tax refund was $3,167, or almost 3% less than the prior year, according to IRS statistics. By comparison, the typical refund check jumped 15.5% to almost $3,300 in 2022, when taxpayers received generous tax credits like the expanded Child Tax Credit.

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Your Tax Refund Should Be 10% Bigger This Year — Here’s Why

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Jan 26, 2024 · The bigger refund is because the IRS adjusted many of its provisions in 2023 for inflation, such as raising the standard deduction and increasing its tax brackets by 7.1%. CBS …

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Your Tax Refund Should Be 10% Bigger This Year — Here’s Why

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Jan 26, 2024 · The bigger refund is because the IRS adjusted many of its provisions in 2023 for inflation, such as raising the standard deduction and increasing its tax brackets by 7.1%. CBS …

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Why Big Tax Refunds Aren't As Bad As The Experts Say - The Balance

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Feb 24, 2023 · The average tax refund was about $3,200 for tax returns filed in 2022. Receiving a large refund means that you had more tax withheld from your paychecks all year than was …

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Americans Could Be In For A Tax Refund Shock Next Year - CBS19

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Dec 10, 2022 · The typical tax refund next year is likely to be around $2,700, or roughly what taxpayers got in 2021 (for their 2020 taxes), Steber said. Of course, each taxpayer's situation …

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How Big Will Your Tax Refund Be? Changes This Year Make It Harder …

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Jan 14, 2023 · The average refund last year was $3,176 as of Oct. 28, according to the latest data available from the IRS, up nearly 13% from $2,815 at the end of 2021. The increase was …

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Why Your Tax Refund Could Be Bigger This Year - Kiplinger

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Mar 17, 2022 · How to Track Your Tax Refund Status. Through March 25, the average federal tax refund was $3,337, up 12.8% from the same period last year, according to the IRS. In 2021, …

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NJ Tax Refunds Likely To Be On Time, But Feds Warning Of Slowdowns

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Feb 7, 2022 · For tax year 2021, eligible New Jersey taxpayers could receive a credit of up to $2,691 with qualifying dependents or $601 without dependents, Treasury officials said. The …

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FAQs about Is your tax refund too big? - CBS News Coupon?

Could your tax refund be bigger this year?

Your tax refund could be bigger this year. Here’s what to do with it FILE - Travelers walk through Miami International Airport on Nov. 22, 2023, in Miami. Experts say paying down debt and saving for a rainy day remain the safest things to do with your tax refund. ...

Will my tax refund decline this year?

Because the average tax refund is lower so far than in the prior tax year, that doesn't necessarily mean that a taxpayer's individual check will decline this year. Aside from the Child Tax Credit, there are some other reasons why some taxpayers may see smaller returns this year, Buhrmann said. ...

Will workers get more tax refunds if they don't keep up with inflation?

Workers whose pay didn't keep up with inflation last year are likely to get bigger tax refunds — up to 10% more, Jackson Hewitt chief tax information officer Mark Steber told CBS MoneyWatch earlier this year. ...

How much is a tax refund compared to a year ago?

The IRS on Friday said that the typical tax refund is about 2.1% higher than a year ago. That means the average taxpayer through February 16 has received about $3,207 from the tax agency, compared with $3,140 at the same time a year earlier. ...

Will a higher tax refund be based on tax data?

“We are predicting a higher refund for those people, up to 10%.” Steber said this prediction is based on modeling using last year’s tax refund data and inflation adjustments from the IRS for tax brackets, the standard deduction and other provisions. ...

How many people expect tax refunds this year?

Tax refunds, which often represent a household's biggest annual influx of cash, are likely to be used to pay for necessities by 4 in 10 taxpayers who expect a refund this year, according to a recent Credit Karma poll. Here's what to know about this year's tax refund amount. Are tax refunds higher in 2024? ...