As the April tax filing deadline approaches, millions of Americans are preparing their returns and anticipating potential refunds. For many, the federal tax refund represents an important financial boost — one that can help cover expenses, reduce debt, or increase savings.
Using the latest data from the Internal Revenue Service (IRS), Upgraded Points , a company that provides advice on credit cards rewards programs and other financial products, explores how refund amounts have changed in recent years and how they vary across income levels and geographic areas. The report looks at national trends in average refund size, the share of taxpayers receiving refunds, and detailed breakdowns by income group, state, and county — offering a closer look at where refunds are highest, and for whom.
Here are some of the key findings from the report:…