Average income tax refund this year will be $3,000

Here's a potential boost for the economy: The Internal Revenue Service expects to issue up to $300 billion in tax refunds this year.

IRS Commissioner Doug Shulman told Congress on Thursday the average federal tax refund is about $3,000 this year. The Internal Revenue Service has received a little more than 75 million returns so far, with about 65 million qualifying for refunds.

Shulman said the agency expects to issue refunds totaling $250 billion to $300 billion.

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The best way to get a quick refund? File your return electronically, and have the refund deposited directly into your bank account.

For Subscribers

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

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FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

Shulman said taxpayers who file electronically can get refunds in less than three weeks. It takes about six weeks to process paper forms.

The filing deadline is April 18.