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The average refund amount per tax return being sent by the Internal Revenue Service (IRS) is $2,933.according to the most recent data released by the agency on Friday.
With two weeks to go before the filing deadline, the IRS reported that the average refund had been $2,933 compared to $3,305 in this period last year.
Bill Smith, the national director of technical tax services at the national tax office of consulting firm CBIZ MHM, told Telemundo that the lower refunds for 2022 are due to the expiration of pandemic aid such as the Tax Credit extension. by children (CTC).
“That’s the only thing I know to explain it,” he declared.
In 2021, millions of families got relief from the CTC that provided up to $3,600 per child, and the Child and Dependent Care Credit that provided up to $4,000 per dependent.
In 2022, the credit per child returned to the maximum of $2,000 and the other to $1,050 per dependent.
The IRS has received 0.5% fewer returns compared to last year and has processed 1.6% more returns through March 17, according to figures released last week.
Usually, if taxpayers file electronically and have direct deposit, they receive their refund in about 21 days.
Every year, thousands of American tax filers report delays in processing returns and sending refunds in the cases of statements on paper. During the pandemic, the situation worsened because there were not enough IRS staff in the offices to process the documents.
Due to the above, the IRS, partners and entities that complete tax returns recommend that taxpayers submit the documentation online.
You can check the status of your refund on the “Where’s My Refund” website or on the IRS2Go.app.
Information about the status of paper returns can take up to four weeks to be available through these tools.
IRS tells taxpayers how to avoid refund delays and filing errors