• Americans can expect lower tax returns this year, a phenomenon which comes as inflation and broader economic volatility continue to rattle household finances.
• The average tax refund amount issued by the IRS is $2,878 this year, according to data from the tax enforcement agency posted earlier this month, which marks a 9.3% decrease from the $3,175 average tax refund seen last year.
• The total amount of refunds provided to taxpayers likewise fell from $222 billion last year to $199 billion this year.

Tagged: Economy