IRS: Average refund 5.8% higher than last year
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
How’s tax season going at your buy-here, pay-here operation?
According to the latest update from the Internal Revenue Service, consumers are getting an average refund amount that’s 5.8% higher than last year.
The IRS reported that through March 8, the agency had processed 61,877,000 returns, distributing $135.281 billion in refunds. That amount is 7.4% lower than at the same point last year.
However, the IRS indicated the average refund amount came in at $3,145, which is $173 more than a year ago.
And for consumers who have direct deposit, the agency indicated the average refund amount was a bit more at $3,209, which is 4.4% higher year-over-year.
While there’s less than a month left for individuals to submit their returns to the IRS, there still might be some valuable tax season growth to be had by BHPH dealerships. Tax Max president and chief executive officer Bill Neylan previously shared some recommendations during an episode of the Auto Remarketing Podcast.
Subscribe to Auto Remarketing to stay informed and stay ahead.
By subscribing, you agree to receive communications from Auto Remarketing and our partners in accordance with our Privacy Policy. We may share your information with select partners and sponsors who may contact you about their products and services. You may unsubscribe at any time.
Listen to that episode in the window below.
