TAX TOTALS

As of 3/1/24, the IRS issued 36.2 million refunds versus 42 million refunds Y-o-Y. However, tax filing season began on 1/23/23 compared to 1/29/24. That said, so far, the IRS has processed 53.2 million returns vs. 54.3 million last year. The IRS has issued 36.2 million refunds vs. 42 million Y-o-Y with the average refund worth $3,128 vs. $3,028 Y-o-Y. All in all, no meaningful differences versus 2023.