Jill On Money: The IRS is your friend

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

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

The Tantalizing Mystery of the Solar System’s Hidden Oceans

The original version of this story appeared in Quanta Magazine.For most of humankind’s existence, Earth was the only known ocean-draped world, seemingly unlike any...

The Role of Scholarships and Grants in Financing Education

Applying for scholarships and grants helps students pay for college. In some situations, these awards allow people to obtain a degree they wouldn't be...

EV, hybrid and gas-powered: Some interesting cars coming in 2024 | CNN Business

CNN  —  Next year will see the introduction of some new, genuinely affordable electric vehicles as well as...