IRS statistics for the week ending Feb. 17 show the average refund is $3,140, down 11.2%, or $396, from last year.
The decline is in keeping with previous IRS alerts that said people could see “significantly smaller refunds,” this year.
“Taxpayers will not receive an additional stimulus payment with a 2023 tax refund because there were no economic impact payments for 2022,” the IRS said in a statement.
The return to 2019 pre-COVID levels includes reductions in the earned income tax credit, the child tax credit, and the child and dependent care credit. Learn more.