Taxes

Tax Refunds: $230 Billion Dollar Payday

An estimated $230 billion dollars will be issued as refunds to American taxpayers in 2013. This infographic shows how important that refund check is.
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By Adam Beckles
Updated on: November 25th, 2020

tax refundNearly half of the United States live from paycheck to paycheck. Recent estimates place the number of average American families stretching their dollars month to month at about 40 percent.

Come tax season, most taxpayers file before February 14th — the reason for this is that the average tax refund is $2,700. That refund from the Internal Revenue Service (IRS) makes for a significant help financially.

The infographic below from the American Tax & Financial Center shows how tax refunds help the average consumer and how it’s become an important part of our economy.