The Average Tax Refund Is $4,381. Here’s Where People Get the Most Money Back — and What They Spend It On.

About two-thirds (64%) of American taxpayers received a tax refund in 2024, according to IRS data reported by Bankrate.

How much did they get, on average? And what did they typically spend it on?

The answer to the former can vary significantly depending on where the taxpayer lives.

Related: Most People With Side Hustles Are Confused About Taxes — and Some Make a Very Expensive Mistake. Are You One of Them?

The average refund for tax year 2022 — the latest available full-year data — was $4,381, per a new report from LendingTree. However, for the third year in a row, Wyoming residents saw the largest average refunds at $6,367, the data revealed.

→ Continue reading at Entrepreneur