By Matt Durr
mlive.com
(TNS)
WASHINGTON — Tax refunds are up by more than 10% so far in 2026 with the average refund worth $351 more when compared to this time last year. That’s according to the latest round of refund statistics revealed by the Internal Revenue Service on Feb. 27.
The report compares filing data for the weeks ending Feb. 21, 2025, and Feb. 20, 2026. So far in 2026, the average refund is worth $3,804, a jump of 10.2% over the average refund of $3,453 in 2025. For those who elect to receive direct deposit, those refunds are also up 8.7%, increasing from $3,505 in 2025 to $3,809 in 2026.
Those jumps in refunds are despite the number of returns received and processed being down by 1.9% and 2.4% respectively. The IRS has issued 28.7 million refunds so far this year, down 3% from 2025.
The average refund is up in large part because specific taxpayers began receiving their refunds in mid-February. Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit could not begin receiving their refunds until that time due to federal law. The entire refund must be held if the taxpayer claims those credits.
Now that those refunds are being distributed, the average refund jumped from $2,476 for the week ending Feb. 13 to $3,804 for the week ending Feb. 20.
However, the agency also expects the numbers to decline as tax season continues. Historically, the refund averages tend to show big increases at the start of tax season, before leveling out as the April 15 deadline approaches.
During tax season, the IRS typically releases a weekly update on the return and refund data.
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The increase in refunds can be attributed in part to changes in the tax code made as part of the “One Big Beautiful Bill” passed last year. Among the major changes were no tax on overtime and tips, deductions on auto loan interest for American-made vehicles and more.
According to the White House, refunds are expected to rise on average by more than $1,000 in 2026. In 2025, the average refund was worth $3,800, a significant increase from the averages of $3,052 in 2024 and $3,004 in 2023. Increases to the standard deduction are also contributing to the increased refunds.
Twenty-three million filers have prepared their own returns, while 17.7 million used a tax professional. The latter represents a decrease of 2.9% year-over-year. So far, the IRS has issued $109 billion in refunds in 2026, up from $102 billion last year.
Typically, taxpayers who submit their return electronically and opt for direct deposit will receive payment within 21 days after the return is accepted. Taxpayers can track the status of their refund through the IRS’s Where’s My Refund tool. According to the IRS, refund status will appear around 24 hours after you e-file a current-year return, three or four days after you e-file a prior-year return, or 4four weeks after you file a paper return.
Taxpayers have until April 15, 2026, to file their 2025 return, or they may be subject to fines and penalties.
Photo credit: cabania/iStock
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