2023 Tax Refund: $2,000 Payments Being Issued— See Who Qualifies

To date, a 2023 tax refund that is worth an average of $2,000 is already being issued. In this article, read and find out who qualifies for these tax refunds!

The 2023 tax season has officially started last January 23. This year, the Internal Revenue Service (IRS) is expecting over 168 million tax returns to be filed. As of February 10, the IRS had already received around 28.8 million tax returns. This number is a 9.1% increase in the total number the agency received at the same time last 2022. Furthermore, by February 10, the IRS had already processed around 13.3 million in 2023 tax refund. This number is a 48.4% increase in the total number the agency had processed at the same time last 2022.

According to Blake, a 2023 tax refund that is worth an average of $2,000 is already being issued to American taxpayers. This means that millions of American taxpayers have already received tax refunds in their checking accounts. This is possible, especially for taxpayers who opted for the direct deposit payment.

READ ALSO: IRS Tax Refund Schedule 2023: Dates For In-Person Assistance In Tax Filing

2023 Tax Refund Reduced

According to Gravier, the 2023 tax refund is worth up to $1,997, which is 14% lower than what was received in 2022. This is because last year the tax refunds were worth an average of $2,323. Nonetheless, the IRS had already stated before that the 2023 tax refund will be reduced compared to last year.

This is because various COVID-19 pandemic relief programs have already expired. This means that several Americans did not receive any stimulus payments anymore. In addition, the federal government has also ended the enhanced Child Tax Credit program. The IRS has also changed its rules about itemized charitable donations.

READ ALSO: Maximum Of $1,000 Tax Refunds In 3 U.S. States— See If Your State Is One Of Them