The average tax refund is 22% higher so far this season, Treasury Secretary and acting IRS Commissioner Scott Bessent told CNBC’s “Squawk Box” on Friday.
The 2026 tax season opened Jan. 26, and the IRS has not yet released official filing data. It’s unclear how many days of returns Bessent’s figure reflects or what comparison period he used.
However, “early data can be deceiving,” Andrew Lautz, director of tax policy for the Bipartisan Policy Center, a nonprofit think tank, wrote in a tax season guide on Jan. 22.
In 2025, the average refund for individual filers was $3,052 through Oct. 17, according to the IRS.
Typically, filers receive a refund when they overpay taxes throughout the year via paycheck withholdings or estimated payments. Alternatively, filers owe a balance when they don’t pay enough.
