Compared with a similar point in the tax season the previous year, there have been nearly 6m fewer refunds, according to the IRS. By March 3rd 2023, 42.040m refunds had been issued compared with 36,288,000 by March 1 of this year, a difference of 5.75m or nearly 14%. Those that have received a refund have gotten more money on average. Refunds increased by about 5% over last year from $3,028 to $3,182. Overall, the IRS received just over 54m tax returns as of March 1st and had processed 53.2m. By that point in the tax season last year, the IRS had received nearly 55m returns and had processed 54.3m.
