March 27, 2020

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March 31, 2020

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Average Tax Refund Rises Slightly in 2014

October 26, 2014

The IRS released data this week that showed average tax refunds rose slightly from $2,656 to $2,696 for the 2013 tax year (filed in 2014). The average increased even as the number of returns received by the Service rose from 133.8 million to 135.5 million. 86.4% of those returns were filed electronically. 

 

The average refund was calculated from a total of 99.9 million refunds amounting to $269.5 billion. 

 

Identity theft continue to pose problems for the IRS as it identified 236 thousand fraudulent tax returns claiming a total of $1.48 billion in refunds. $164 million of the fraudulent refunds were actually issued before the Service was able to tag the returns as fraudulent. 

 

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