Tax refunds are the biggest windfall of the year for many American households. And ‘tis the season: Through the week ending Feb. 13, nearly 13 million people had received 2025 federal tax refunds averaging $2,476, according to the IRS.
That average refund amount is up 14% from the same time period last year, and it’s expected to grow in the coming weeks. For example, the IRS wasn’t allowed to begin processing refunds involving the Earned Income Tax Credit or the Additional Child Tax Credit until Feb. 15. Various provisions of the One Big Beautiful Bill Act (OBBBA) should amplify refunds this year, including an expanded child tax credit, a…
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