The IRS has issued more than 45 million tax refunds worth almost $152 billion in total, as of March 11, the agency reported Friday.
Nearly half of Americans expect refunds this season, according to a Capital One report, providing a needed financial boost for a large percentage of filers.
The average payment is currently $3,352 through March 11, $537 larger than last year’s $2,815, but it may still change with four weeks until the April 18 deadline.
The latest filing season statistics come amid a tough period for the IRS, which is still digging out from tens of millions of unprocessed individual returns from last year.
While the agency issues most refunds within 21 days, several factors may cause delays, including paper-filed returns, payments by mail, errors or returns affected by identity theft.
“We urge extra attention to those who received an economic impact payment or an advance child tax credit last year,” IRS Commissioner Chuck Rettig said in a statement. “People should make sure they report the correct amount on their tax return to avoid delays.”
The IRS sent about 7.4 million “math error” notices for stimulus payment mistakes from Jan. 1 through July 15, 2021, delaying refunds, and many are still waiting for a resolution.
Your refund status
While the IRS couldn’t issue refunds for the earned income tax credit or the additional child tax credit by law until mid-February, those payments should have reached filers by March 1, according to the agency.
You can check your refund status with the “Where’s My Refund?” online tool or through the IRS2Go app. You may see an update 24 hours after the IRS has received your electronic filing or four weeks after sending a paper return.