"Prepare for a Smaller Tax Refund This Year: Experts Warn"

The average refund check handed out to the 72 million Americans who filed their 2022 income tax returns as of March 17 was down 11%, according to figures calculated by the Internal Revenue Service. The change can be attributed to COVID-era government benefits being rolled back, including the temporary increase in the child tax credit from $2,000 to $3,600 for children under the age of six as part of the American Rescue Plan. The smaller refunds come at an inopportune time for tens of millions of Americans who are struggling to make ends meet due to stubbornly high levels of inflation.