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Home/Briefs/personal finance

BriefApril 17, 2026 · 01:26 AM

Tax Refunds Average $3,462 as Debt Payments Replace Savings

Taxpayers are using their refunds to pay bills or reduce debt, a shift in behavior according to a RetailMeNot survey showing 52 percent of taxpayers are doing so. Last year, more people put their refunds into savings. The average tax refund this season is $3,462, which is 11 percent higher than the previous year. The IRS reports that most taxpayers file online and choose direct deposit, which delivers refunds in about three weeks. Those who file by mail receive their funds in at least six weeks.

Harper Thorne

personal financetax refundsconsumer debt

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