Tax Refunds Smaller In 2024. Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. 2 this year was $1,395.
The average tax refund issued by the internal revenue service so far this year is roughly 6% higher than in 2023. A december survey of 2,500 adults by company taxact found that a quarter of taxpayers said they think they’ll get a smaller refund in 2024 (for their 2023 tax return) than they.
2 This Year Was $1,395.
That's because there were no federal stimulus payments.
Your Tax Refund, If You Are Eligible For One, May Be Smaller Than The One You Received In 2022.
According to this report, the average 2024 tax refund is $1,395 — about 29% smaller than the average refund last year.
In The Early Stages Of The 2024 Tax Season, American Taxpayers Are Noticing A Decrease In The Size Of Their Tax Refunds, According To The Internal Revenue Service.
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Early Filing Season Statistics From The Internal Revenue Service Show Taxpayers May Get Less Back In 2024.
Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe.
Why Would Your Refund Be Bigger In 2024?
But it’s possible to shorten that timeframe.
A Smaller Refund Means You Got More Of Your Money When You Earned It.
