Average tax returns heading into early February are up by around 11% over 2025, according to the most recent Internal Revenue Service statistics.
In a statement, the agency said that it is continuing to see “a strong filing season with refunds continuing to reach taxpayers as planned.”
Despite the higher amount of individual tax returns, the total number of returns thus far received is around 5.2% lower than a year ago at this time. According to the latest IRS figures, 23.5 million people filed returns by the first week of February 2025. So far this year, that number is down to 22.3 million, accounting for a 5.2% overall drop.
The number of returns completely processed is also down, from 23.5 million during the second month of 2025 to just over 20.6 million now.
Since the tax season officially began on January 26, the average tax refund has stood at $2,290. Higher earners have seen refunds more than $3,800.
Economists earlier predicted that refunds would increase due to a series of provisions in the One Big Beautiful Bill approved last year by Congress.
According to figures put together from a variety of sources, those earning less than $100,000 annually are seeing refunds of $597, while those earning between $100,000 and $165,000 are seeing refunds of just over $1,400.
Earners in the $165,000 to just under $235,000 range are receiving refunds of just over $2,000; with those in the $210,000 all the way up to $316,00 category are seeing checks ranging from just under $3,200 to $3,378.
The refund average drops significantly for those in the $1.1 million and above category, with refunds of around $908.
Earlier this year, the IRS announced that refunds will be sent within 21 days of a tax return being electronically filed. The wait time is longer for paper returns.
The agency anticipates receiving around 164 million tax returns before the April 15 deadline. That 164 million is in addition to the nearly 2 million tax cases that have not been resolved from previous filing periods.
February 20, 2026
By Garry Boulard
Photo courtesy of Pixabay
