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On the radar: Average size of a refund slightly above a year-ago in the April 10 IRS statistics

Although the average size of a tax refund was down week-over-week to $2,852 as of the April 10 statistics for the 2020 tax filling season, it ran about $57 above the $2,795 in April 12 week last year. I think that the size of refunds is averaging higher in 2020 because of the push-back in the filing deadline from April 15 to July 15. Those taxpayers expecting a refund are going to complete their returns sooner, while those anticipating little or no refund or having to pay tax will put off filing until later.

The pace of filings continued to lag last year due to the above-mentioned revised filing date.

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