Each year, people complain about filing their taxes and dreading to get the paperworks ready. But did you know that 8 out of 10 Americans will get tax refunds? The average tax refund is roughly $2,800, according to the most recent IRS data.
For low income tax filers, a large portion of their refund is due to the Earned Income Credit (EIC Credit) and child tax credit.
For high income tax filers, a large portion of their refund is due to mortgage interest, real estate taxes and charitable contributions that make them eligible for more tax breaks.
Are you expecting to get a refund this year?