March 22, 2012 at 2:01 PM ET
The IRS has already handed out tens of millions of income tax refunds, and the average refund amount is about $3,000.
IRS Commissioner Douglas Shulman told a House subcommittee Thursday that the IRS had received more than 70 million individual tax returns as of March 10, up about 5 percent from the same time last year.
Shulman said the IRS had issued 59.2 million refunds as of March 10, for a total of $174 billion.
The $3,000 refunds are about the same as last year, according to Shulman’s testimony before a Ways and Means subcommittee.
If you’re more of a procrastinator than an early bird, don’t worry: You still have some time. The tax due datehas been extended to April 17 this year.
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