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2024 IRS Tax Refunds: Americans Receiving Larger Refunds Up by 4% from Last Year
2024 IRS Tax Refunds Increase Despite Challenges of Pandemic Benefits Ending and High Prices
According to CBS News, many Americans are receiving larger 2024 IRS tax refunds this year. Americans are getting $3,213 back which is 4% more than last year. This is good news because last year due to the end of pandemic benefits and high prices Americans got smaller refunds.
READ ALSO: Earned Income Tax Credit: A Refundable Tax Credit For Low To Middle-Income Families
2024 IRS Tax Refunds: 4% Increase Amidst Inflation, Aiding Economy and Consumers – Check It Now! (PHOTO: Forbes)
2024 IRS Tax Refunds: Adjustments Benefit Taxpayers, Increasing Refunds for Some Americans
The IRS made some changes to help people this year. They adjusted things like the standard deduction which is the amount of money you can subtract from your income before paying taxes. This means people who didn’t get raises last year because of high prices will get bigger refunds. Americans are still getting less money than two years ago when there were more pandemic benefits.
READ ALSO: Approved Housing Bill By The Senate Finance Committee Announced To Qualify Renters For A Tax Credit
