"IRS Reports 11% Decrease in Average Tax Refunds for 2021"
The average tax refund check issued by the IRS this year is about 11% lower than last year, with no extra tax credits or pandemic-related stimulus payments delivered by the federal government in 2022. This decrease in refund size can be concerning to millions of Americans who depend on the influx of money from Uncle Sam to make major purchases, save for retirement or pay off debt. Taxpayers typically receive a refund if they had too much money withheld and overpaid their taxes the previous year.