According to the Internal Revenue Service, more than 4 million tax refunds have been issued so far this year for the 2022 tax season. A refund of $2,201 was the average.
The filing season began on January 24th, and the following amounts were due:
The total amount of money that was returned was 16,685,000.
Returns totaling 12,992,000 were processed
4,330,000 dollars were refunded in total.
More than four million refunds have already been issued through February 4, 2022, by the Internal Revenue Service (IRS). This year’s filing season is expected to bring in 160 million individual returns for the 2021 tax year.
Numerous factors, including timing and filing patterns, can have a significant impact on weekly figures in the first few weeks of filing season.
The IRS says there can be no year-to-year comparisons at this time because the numbers can change drastically during the first few weeks of the filing season. According to data from the eighth day of last year’s filing season, nearly 30 million returns were processed, resulting in an average refund of $2,880.
The filing and payment deadline has passed.
Due to Emancipation Day on Monday, April 18, 2022, most taxpayers will have to file and pay their taxes one day later than usual, on April 15.
Because of the Patriots Day holiday, residents of Maine and Massachusetts have until April 19, 2022, to file their tax returns.
There is a May 16 deadline for tornado and wildfire victims in the states of Illinois, Tennessee, and Kentucky to file and pay for damages. After Monday, October 17, 2022, taxpayers requesting an extension will be able to file their taxes.
The April 18 deadline will not be extended like it was in the past two pandemic years, according to IRS Commissioner Charles Rettig.