US Tax Refunds Decline 3.3% This Year in Run-Up to Deadline
- Through April 5, 2.3 million fewer Americans received payments
- More taxpayers say they unexpectedly owed money: CivicScience
Fewer US taxpayers have received a refund this year in the run-up to tax day compared to 2023, signaling some consumer spending may be disrupted.
Data from the Internal Revenue Service showed that 66.8 million taxpayers were reimbursed through April 5 compared to 69.1 million through April 7 last year. That means that 3.3%, or roughly 2.3 million, fewer Americans obtained the boost to their finances that they got in 2023.