Under the first full year of the new tax code, tax refunds were down 8 percent compared to last year for the first week of filing.
The average refund was $1,865, compared with $2,035 in tax year 2017. Taxpayers who didn’t adjust their paycheck withholdings may see a smaller refund.
In addition, the number of returns received declined from 18,302,000 to 16,035,000 for the first five filing days.