Tax season is officially open and to prepare, the IRS has a warning: DO NOT expect refunds to be quite so generous this year.
The average tax refund for the 2022 filing season (through the end of October) was $3,176 — a 13.8% jump from the prior year average refund of $2,791 and a sizable increase from the pre-pandemic year of 2019, which was $2,869.
The reason for the early warning is that many of the COVID-19 relief measures stopped last year. There were no Federal or state stimulus recovery rebates or credits; no enhanced child or dependent care tax credits; and no charitable deductions for standard filers. As