The IRS delivered a progress report Thursday on tax season so far, noting that it has issued 19.7 million refunds worth more than $66 billion, up slightly from last year’s totals.

The average refund as of Feb. 6 is $3,366, slightly more than the average at this time last year, according to the IRS. The vast majority of taxpayers are choosing to receive their refunds through direct deposit, which accounts for almost 95% of refunds so far this year.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access