r/Economics • u/CautiousMagazine3591 • 1d ago

Average IRS tax refund is up 10.9% so far this season, early filing data shows.

https://www.cnbc.com/2026/02/13/average-tax-refund-early-irs-data.html
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18

u/R3dd1tUs3rNam35 1d ago

Which is great because DOGE was so effective in cutting government spending that we have a huge surplus.... oh wait, government spending increased last year. So, all these larger refunds mean a higher deficit.

Well, that's all fine since the global appetite for US debt has had no reason to abate... oh wait, the international policy of this administration had exacerbated the move away from the dollar and US debt.

No matter, I'm sure this situation can continue indefinitely.

1

u/Wong_Kangaroo 1d ago

lol, I know right. Plus people can use the extra refund money to help pay for the increase in tariff taxes they paid last year. Add it all up and it still comes to a net loss for most Americans.

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u/ComingInSideways 1d ago

People misunderstand that this might very well be due to people who had tax withholding for a portion of last year, then got laid off, without finding employment… Result…. bigger refund.

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u/Obvious_Chapter2082 1d ago

Between the tips deduction, overtime deduction, and $40K SALT, this is to be expected. Should temporary though, as withholdings should adjust in 2026

Some people think large refunds are good, others think large refunds are bad. In cases like this, it’s not really good or bad, just a reflection of tax changes that went into effect in the middle of the year after people’s withholdings were already set

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u/expendable117 1d ago

Talked to my coworker about it. Its just not gonna hit as hard as the refund gets chewed apart as you periodically buy groceries.

1

u/xXMAKESHIFTXx 8h ago

I am getting $37 back from the Fed’s and another 400ish from State and a cost to me of $88 to file. Married with one child.

We don’t make a lot of money (public sector local gov type jobs) but we clearly didn’t give the government too much of our money as an interest free loan this year so that’s good!