The average federal tax refund issued so far this filing season is $3,536, a 22.8 percent increase from the same time period last year, according to IRS data released Friday.
The data, which cover returns filed through Feb. 18, is the first to factor in taxpayers who claimed the earned income tax credit and refundable child tax credit. By law, the IRS can’t release refunds claiming those credits prior to mid-February.
The average refund is around $650 higher so far, and is much higher than the average refund amount from the filing season’s opening week.
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