Feb 23, 2019

Average tax refunds down 16.7% in third week of IRS filing


IRS building. Photo: Saul Loeb/AFP via Getty Images

The average tax refund through the first three weeks of filing season is down 16.7% from the same period last year, according to IRS data cited by The Hill.

Yes, but: The IRS sent out a press release Friday evening to clarify this new data, saying that "comparing weekly data is misleading" and "isn't useful in drawing broad conclusions on refunds overall." 80% of Americans should have a lower tax bill this year as a result of the GOP tax cut, according to the Tax Policy Center.

The big picture: This is the third straight week that Americans, on average, have seen lower refunds. Democrats have seized on the issue as a sign that the GOP tax cut has not benefitted average Americans, but Trump officials have said the lower refunds are because most Americans are seeing larger paychecks throughout the year.

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