Tax refunds jump 14% over last year

Early tax filers are enjoying a windfall, with refunds up double digits over last year. According to the latest IRS tax filing data, the average refund totals $2,476, a 14.2% boost over the same week last year. The total amount refunded — more than $32 billion as of Feb. 13 — is up more than 8%. Refunds were expected to be higher this year thanks to changes in the One Big Beautiful Bill Act, which ushered in new and bigger tax breaks for millions of Americans. At the same time, the IRS did not update its ...