(WHDH) — Tax season is off to a slower start this year with early filers seeing smaller average refunds.
The Internal Revenue Service (IRS) says the average refund is down about eight percent under the first full year of the overhauled tax code.
Refunds for early filers average $1,865 dollars, compared to $2,035 dollars for the 2017 tax year.
The total number of returns received by the IRS also dipped during the first week of the season, which ended Feb. 1.
This tax season will be watched closely for the real impact of the GOP-led tax overhaul in 2017.
The overhaul ushered in the most sweeping changes to the tax code in three decades.
(Copyright (c) 2024 Sunbeam Television. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)