IRS Data Shows Average Tax Refunds Jump 10.9% In 2026 Filing Season

Benzinga03-31

Average tax refunds in the United States are rising in the 2026 filing season, according to new data from the Internal Revenue Service (IRS). The agency reported that the average refunds reached $3,...

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This is up $350, or 10.9%, from $3,221 at the same point last year. Total refund payments also increased. The IRS has issued more than $202 billion so far, compared to $179 billion a year earlier. The number of refunds rose slightly to about 56.7 million, reflecting a 1.8% increase.\nThe data shows that while refund amounts are higher, overall filing activity is slightly slower. Total returns received declined 0.9% to 78.9 million. Returns processed also fell 1.1% to 77.8 million. More taxpayers are filing on their own, with self-prepared returns rising 1.9% to over 37.8 million. In contrast, filings handled by tax professionals dropped 1% to 39.7 million.\nThe IRS continues to push taxpayers toward electronic payments. Direct deposit refunds increased 6.5% to nearly 57.3 million. The average direct deposit refund rose 8.4% to $3,561, while the total value of these payments climbed 15.5% to almost $204 billion.\nPaper checks are being phased out in most cases. This shift is part of a broader move to modernize federal payment systems and reduce administrative costs. However, delays have emerged for some taxpayers who did not provide valid banking details, highlighting transitional challenges in the system.\nBroader economic conditions may affect how far these refunds go. Analysis from Goldman Sachs shows that disruptions linked to the Iran conflict could push inflation higher in 2026. Rising energy prices are expected to increase transportation and food costs, putting pressure on household budgets.\nThis means higher refunds may not translate into stronger spending power. While refund amounts have increased in nominal terms, inflation could reduce their real value for many households.\nExperts warn that fraudsters are increasingly using artificial intelligence to impersonate IRS officials, relatives, or tax preparers through calls, emails, and texts. Taxpayers are urged to verify communications, avoid suspicious links, and use an Identity Protection PIN to safeguard refunds.\nThe filing deadline for the 2025 tax year is April 15. Taxpayers who request an extension must still make an estimated payment by that date.\nDisclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.\nImage via Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.40.0","shortVersion":"4.40.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2623304721","isCrawlerRequest":true}