The tax deadline is 10 days away. This is the average refund so far



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There are 10 days until April 18, the tax deadline for most Americans, and the IRS has already sent more than 63 million refunds worth more than $204 billion by April 1, the agency reported Friday.

Nearly a third of Americans don’t file their returns until the last minute, according to an IPX 1031 report, and expect a $1,915 refund. However, the average payment is currently $3,226.

Despite delayed filings, many Americans plan to use repayments to boost their finances, with 37% looking to save money and 22% looking forward to paying off debt, the IPX 1031 report found.

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The latest filing season stats come amid a rough patch for the IRS, which is still dealing with millions of unprocessed individual filings from last year.

While the agency makes most refunds within 21 days, several factors can cause delays, including paper returns, mail payments, errors or returns related to identity theft.

“We urge special attention be paid to those who received an economic impact payment or child tax advance last year,” IRS Commissioner Chuck Rettig said in a statement. “People need to make sure they report the correct amount on their tax returns to avoid delays.”

From January 1 to July 15, 2021, the IRS sent out about 7.4 million “mathematical errors” notifications for errors in paying the stimulus, delaying refunds and many still awaiting resolution.

Your refund status

While the IRS was not allowed to issue refunds for the income tax credit or additional child tax credit until mid-February, according to the agency, those payments should be completed by March 1, according to the agency.

You can check the status of your refund with “Where’s my refund?” online tool or via the IRS2Go app. You may see an update 24 hours after the IRS receives your electronic return or four weeks after sending a paper return.

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