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Tax Refunds Expected To Shrink For Millions Of Americans Tax Refunds Expected To Shrink For Millions Of Americans
Tax Refunds Expected To Shrink For Millions Of Americans As millions of Americans file and complete their 2018 taxes, some have been shocked by a minimal return, including several who are now paying out to the Internal Revenue Service after years of receiving refunds. According to the IRS, the total number of returns received in the week ending on Feb. 1 - more than 16 million - was down 12.4 percent from the week that ended on Feb. 2 last year. Only 13.31 million returns have been processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the same period last year, when it w…

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by Zak Failla