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U.S. Department of the Treasury: Average tax refunds up 19 percent from last week, consistent with 2018 refunds

The U.S. Department of the Treasury cautions against drawing broad conclusions on refunds overall this early in the filing season.

Posted: Feb 28, 2019 3:25 PM

(WASHINGTON)— Through four weeks of the filing season, the average tax refund in 2019 increased to $3,143, a significant jump from last week’s average of $2,640. The average refund at this point in the filing season is now up 1.3 percent over last year based on 47.7 million individual returns processed thus far in 2019 compared 49.2 million returns processed in 2018.

As previously stated, the increase in the weekly data is primarily due to the remainder of the Earned Income Tax Credits and Child Tax Credits being paid out this week. Despite the higher refund average, the Treasury reminds taxpayers that weekly filing season data is variable and will continue to fluctuate. 

The U.S. Department of the Treasury cautions against drawing broad conclusions on refunds overall this early in the filing season.

The Treasury also continues to emphasize that there is a difference between a tax liability and a tax refund. The size of someone’s refund is a separate issue from whether their taxes have increased or decreased. Most people are benefiting from the Tax Cuts and Jobs Act by receiving larger paychecks throughout the year, instead of tax refunds that simply result from people overpaying the government throughout the year.

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Snow showers have left the area and we saw anywhere from 2-4 inches of snow. Surface temperatures for the most part remain above freezing so accumulations were mostly on elevated and grassy surfaces. Skies slowly cleared throughout the day with temperatures warming into the mid to upper 40s. Conditions look to dry out and slowly warm throughout the next few days. Rain chances will return mainly through the morning hours on Friday with temperatures back in the 60s. Temperatures will continue to warm through the weekend with highs back in the upper 60s and lower 70s. Temperatures will be close to 80s for the beginning of next week under mostly sunny skies.
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