In February 2023, the IRS reported (https://www.irs.gov/newsroom/filing-season-statistics-for-week-ending-feb-3-2023) that it has issued nearly eight million refunds to individuals with respect to 2022 returns averaging $1,963, down slightly from last year’s average of $2,201. Almost 87% of refunds were made through direct deposits.

There is a time limit for filing tax refund claims:

  • Three years from the date the original tax return is filed
  • Two years from the date the tax was actually paid, if this is later than three years
  • Seven years in the case of a bad debt or a worthless security

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