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Tax Refunds – IRS Disburses Record $135 Billion within Six Weeks of 2024’s Tax Season

IRS Catching Up on Tax Refunds Despite Delayed Start to 2024 Tax Season

IRS Working to Expedite Refunds as 2024 Tax Season Nears its End

As the 2024 tax season enters its final stretch, there’s been a steady increase in the money being refunded by the IRS, despite lagging behind last year’s numbers. Since kicking off on January 29th, taxpayers have been eagerly awaiting their refunds. By March 8th, the IRS had already sent out over 43 million refunds, though this fell short of the 49.1 million sent by the same time in 2023.

Last year’s tax season began slightly earlier on January 23rd, giving the IRS more time to process returns and issue refunds. However, despite this head start, the agency is now catching up and even surpassing last year’s figures. Taxpayers who filed electronically and opted for direct deposit typically expect their refunds within 21 days, according to the IRS.

READ ALSO: 1-Cent Tax Hike: San Diego’s Tax Increase Proposal For Enhanced Public Services – Leaders Discuss!

Tax Refunds – IRS Disburses Record $135 Billion within Six Weeks of 2024’s Tax Season (PHOTO: CNET)

Taxpayers Await Refunds as IRS Races to Expedite Processing Amid Optimism for Timely Relief

With just about a month left in the tax season, many are anticipating their refunds while the IRS works diligently to process returns. Despite starting a tad later this year, there’s optimism that the agency will continue to speed up its refund issuance, providing much-needed financial assistance to millions of taxpayers across the country.

READ ALSO: Lifting Child Labor Laws And Cutting SNAP Benefits In Kentucky – What You Need To Know!

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