Refunds are starting to look a little like last year's. The average tax refund was $3,068 for the week of March 1, reflecting an increase of $22 versus the year-ago period, the IRS found.
div > div.group > p:first-child"> The average check from the IRS hit $3,068 for the week of March 1, up 0.7 percent from this time last year, according to data from the tax authority.
The overhaul of the revenue code roughly doubled the standard deduction to $12,000 for single people , eliminated personal exemptions and placed new caps on itemized deductions. "The more deductions you lost, the more your taxable income increased," said Nathan Rigney, lead tax research analyst at the Tax Institute at H&R Block.
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