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In 2024, about 25% of U.S. households are living paycheck to paycheck with no financial cushion, according to Bank of America.At the same time, the average IRS refund for 2023 tax returns was ...
Of those, about 96% used a refund anticipation check, or RAC, the Treasury Inspector General for Tax Administration estimated in a report last week. Another 4% used a refund anticipation loan, or RAL.
Last year, the average tax refund was $3,167 as of December 2023, according to the IRS. As of now, the average tax refund for 2024 is $1,395, but that's likely to go up the further we get into tax...
Americans rely heavily on tax refunds as a way to reset their finances and force savings, experts say. Experts say small tax refunds are a good thing, but a look at how Americans spend the cash ...
Some taxpayers have been waiting months upon months for their tax refunds. The IRS announced earlier in September that the agency is dealing with a backlog of roughly 8.5 million individual...
Get that money.
It's beginning to look a lot like peak tax season, which means millions of Americans will be getting refunds from the IRS and figuring out what to do with the money. In what many financial experts...
The agency corrected 14 million 2020 tax returns related to unemployment compensation, resulting in $14.8 billion in refunds.