Tax Refunds Are a Little Smaller This Year -- So Far

Each year, millions of tax filers eagerly await a refund, and 2020 is no exception. Since the IRS began accepting tax returns in late January, taxpayers who got theirs in early are already starting to see their money.

But early data from the IRS reveals that so far, refunds are coming in smaller this year compared to 2019. As of a few days ago, the average refund was $3,125, compared to $3,143 at the same time last year. And while smaller refunds are a good thing in theory, they could be troubling for those Americans who count them on the most.

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Source Fool.com