A $2,000 tax refund payment is already heading to millions of Americans. Tax season is here, and millions of Americans are already seeing their refunds hit their bank accounts.
$2,000 Tax Refund Payment Start To Hit Bank Accounts!
As the tax season officially began on January 23, and the Internal Revenue Service (IRS) said it’s expecting more than 168 million tax returns this season. According to the Internal Revenue Service (IRS), the agency has already received 28.8 million tax returns by February 10, representing a 9.1 percent increase from last year’s figures.
The IRS has processed a total of 13.3 million refunds, which is 48.4 percent higher than last year at the same time, US Sun reported. The average refund amount issued by the IRS this year is $1,997, which is a 14 percent decrease from last year. The lower amount reflects the expiration of several pandemic relief programs, and Americans can no longer expect stimulus payments. Despite this, the IRS reports that nearly 12.2 million Americans have already earned their refund back via direct deposit, with an average direct deposit payment of $2,084.
READ ALSO: Expect Faster Refunds As IRS Backlogs Decline Significantly This Year
When will I see my $2,000 tax refund payment?
The IRS has stated that Americans should expect their paper tax returns after six to eight weeks when the date the return is received. However, if you filed electronically, the timeline could be much sooner and you could be one of those who are already receiving the $2,000 tax refund payment. These returns are given in less than three weeks, or even sooner if you opt for the direct deposit method.
In conclusion, tax season is in full swing, and millions of Americans are already receiving their $2,000 tax refund payment. If you’re waiting for your refund, be patient, and remember that it’s not free money. Consider adjusting your tax withholding to avoid overpaying your taxes in the future.
READ ALSO: 2021 Federal Tax Refunds: Millions of Taxpayers Still Waiting for their Money
