
2024 tax refunds could be larger than last year due to new IRS brackets. Here's what to expect.
CBSN
Many Americans got a shock last year when the expiration of pandemic-era federal benefits resulted in their receiving a smaller tax refund check. That unwelcome surprise raises the question of what taxpayers can expect this year.
The good news: People could see bigger refunds this year, with some potentially receiving 10% more than a year earlier, according to Mark Steber, chief tax information officer at Jackson Hewitt.
Last year, the average tax refund was $3,167, or almost 3% less than the prior year, according to IRS statistics. By comparison, the typical refund check jumped 15.5% to almost $3,300 in 2022, when taxpayers received generous tax credits like the expanded Child Tax Credit.
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