Average tax refund drops to $2913

According to the latest filing statistics from the IRS, taxpayers received tax refunds averaging $2,913 in 2011 which is a 3% decrease from last year’s average of $3,003. In terms of total returns, the IRS gave out 109.3 million refunds last year ($318.5 billion), which is lower than the 109.4 million refunds given out in 2010 ($328.4 billion).

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