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The IRS has sent nearly 30 million refunds. Here’s the average payment

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Despite continuing challenges, nearly 30,000,000 tax refunds have been sent by the IRS, which is worth approximately $103.2 Billion. reported Friday.

According to A.T., 29% Americans are concerned about receiving a lower refund. Bankrate surveyThe current average amount is $3,473 from February 25 to Feb. 25, $658 less than the payment of $2.815.

The average refund could change, as many Americans submit their returns just before the deadline of April 18. Up to 45.4 millions returns have been received by the IRS so far.

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These latest statistics are released amid difficult times for the IRS as it continues to process millions of individual returns unprocessed. from last year.  

Although most agency refunds are issued within 21 days of receipt, there are several reasons why this may take longer. may cause delaysAll returns including those that are paper-filed, returns by post, and payments made via mail. affected by identity theft.

Chuck Rettig, IRS Commissioner: “We ask for extra attention to people who have received an economic benefit payment or an advanced child tax credit last fiscal year.” said in a statement. To avoid any delays, it is important that taxpayers accurately report their taxes.

About 500,000 letters were sent by the IRS 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.

Status of your refund

The IRS could not issue refunds to filers for earned income tax credit and additional child tax credit due to law until February mid-February. However, these payments should have been received by March 1. according to the agency.     

The following link will allow you to check the status of your refund. “Where’s My Refund?”Online tool, or via the IRS2Go app. An update may be available 24 hours after an electronic file has been received by the IRS or up to four weeks after a paper return was sent.

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