Average IRS Tax refunds down 9%

Time is running out if you haven't filed your taxes yet and don't be surprised if your refund is smaller this year.

COLUMBIA, S.C. (WOLO)— Time is running out if you haven’t filed your taxes yet and don’t be surprised if your refund is smaller this year.

According to the IRS, 80 million Americans have filed their 2022 returns. So far, the government has issued $172 billion in refunds.

That’s about 9% less than at the same time last year.

The average refund also dropped from about $3,200 to $2,900.

One reason for the decrease—pandemic era provisions, like the expanded child credit, have expired.

Still, the total number of people receiving refunds is up.

According to the IRS, 59 million people have gotten a refund this year. That’s about 3% more than last year.

Most Americans have until Tuesday, April 18 to file their taxes.