Did you get stuck with a smaller tax refund this year? You’re not alone.
Refunds, across the board, are down by an average of $500 in 2019. According to the latest IRS data, the average 2019 refund is about $2,600, as opposed to more than $3,100 in 2018. On top of that, about 26 percent fewer people are getting refunds this year – one out of four of us, who usually does, won’t.
But analysts say many Americans are getting a smaller refund because more of that money was included in their paychecks, throughout the year. They also warn that the numbers could change as more tax returns are filed.