Why Your Tax Refund Could Be Higher This Year

The average tax refund amount is higher this year than last filing season. How does yours compare?

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(Image credit: Getty Images)

The latest IRS data show that the average federal tax refund is approximately $3,182. That’s more than $140 (5.1%) higher than it was at this time last year. But that doesn’t mean everyone will get a bigger tax refund from the IRS this year. Here are some reasons your refund could be more — or less — than last year.

2024 tax refund

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Katelyn Washington
Former Tax Writer

Katelyn has more than 6 years of experience working in tax and finance. While she specialized in tax content while working at Kiplinger from 2023 to 2024, Katelyn has also written for digital publications on topics including insurance, retirement, and financial planning and had financial advice commissioned by national print publications. She believes knowledge is the key to success and enjoys providing content that educates and informs.