Average tax refund is up $350 compared to last year as IRS deadline approaches

The average tax refund is about $350 higher so far this season, compared with about the same period in 2025, according to the latest IRS filing data.

As of March 27, the average refund amount for individual filers was $3,521, up from $3,170 roughly one year ago, the IRS reported on Friday.

The IRS data reflects about 88.4 million individual returns received, out of about 164 million expected through the April 15 deadline.

This season, many filers are seeing bigger tax refunds based on changes enacted by President Donald Trump's "big beautiful bill" in July.

Most U.S. workers are W-2 employees, which means companies pay their taxes throughout the year via paycheck withholdings.

Although Trump's legislation included 2025 tax cuts, the IRS didn't update withholding tables, and many workers overpaid taxes through the rest of 2025.

Typically, you can expect a tax refund when you overpay taxes. Alternatively, you may have a balance due when you didn't pay enough.

The size of tax refunds has been a focus for Republicans as the November midterm elections approach. The GOP has pointed to bigger average refunds triggered by Trump's tax breaks as many Americans struggle with affordability.

Nearly 50% of the tax returns filed in 2026 have included one of Trump's "signature campaign policies" — the deductions for tip income, overtime earnings, seniors and auto loan interest — Treasury Secretary Scott Bessent said in late March during a "Fox & Friends" interview.

Bessent said the overtime deduction has been a "home run," claimed on 25% of returns received by the IRS, which amounted to almost 20 million filings, as of March 20.

In a Jan. 26 release, the White House said the average taxpayer could receive an extra $1,000 or more, citing early October data from investment bank Piper Sandler. But so far, average tax refunds have been smaller, according to IRS data.

"We are seeing an uptick in refunds," Tom O'Saben, director of tax content and government relations at the National Association of Tax Professionals, said during a press call last week.

"I don't know that it's substantial, but one person's substantial is another person's pittance," he said.