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IRS: Millions see average tax refund of $3,536 today

Many Americans filed their tax refunds as soon as the IRS began accepting them on Jan. 24, 2022.

tax forms Americans submit to the IRS for refunds

While the rule of thumb is that filing your tax return sooner will get you your refund faster, that is not always the case.

A lot of families claiming certain credits could not see their refund legally sent until mid-February.

A large group of refunds went out today, March 1.

IRS: Most commonly used tax forms explained

There are around 2.5 million Americans who filed their returns but are still waiting on their refund, and many can expect it today.

More people were able to claim the child tax and earned income credits this year, which add to the wait time for processing and a refund.

This delay is an attempt to help eliminate fraudulent claims.

Social Security: Bump in benefits may get them taxed

Who is getting their refund from the IRS today?

Those that claimed the CTC and/or EITC may see their refund.

This is only true if you filed online, chose direct deposit, and submitted an error free return.

You may also track your refund using the Where’s My Refund tool.

As of Feb. 18, the average refund has been $3,536.

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IRS: What is an AGI, or Adjusted Gross Income?

What are the tax credits causing the IRS to take longer to send refunds?

The EITC is available for low to moderate income working families.

In 2021 a family with 3 or more kids could see as much as $6,728 in their refund.

The average EITC is worth $2,411.

The child tax credit was worth half the refund this year if parents received payments last year.

That means you could collect up to $1,800.

IRS: 2022 tax due dates and deadlines

File your taxes with the IRS on time

Over the course of the pandemic, tax deadlines were pushed back significantly in 2020 and 2021, but that is not the case for 2022.

For 2022 the deadline will be April 18.

Normally it’s April 15, but in honor of Emancipation Day it’s been pushed back.

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