IRS says average tax refunds up by 13.7% so far. Is your refund better or worse?

Tax filers have roughly six weeks to go to meet the April 18 tax deadline for most taxpayers, but so far the Internal Revenue Service has received more than one third of all the individual returns it expects to get in 2022.

The average tax refund was $3,401 for returns processed through March 4, based on the latest IRS data. That's up $411 or 13.7% from a year ago.

The IRS has issued nearly 38 million refunds so far totaling $129.2 billion.

If your 2021 tax return has no issues, the IRS said most people can expect to receive a refund within 21 days of when they file electronically if they choose direct deposit. It’s possible, the IRS warns, that your tax return may require additional review and take longer.

What's important to note is that the IRS began processing returns roughly three weeks earlier this year than it did a year ago. This year, the tax season began Jan. 24.

As a result, comparisons can be difficult. Weekly numbers also can shift dramatically early in the season, as filing patterns also change, according to the IRS.

Last year's tax filing deadline for 2020 returns was extended, for example, to May 17, 2021.

The IRS reported Friday that it has received 54.7 million individual income tax returns. That's down slightly by 1.7% for the same time frame a year ago.

The IRS has processed a bit more than 53 million returns, up 8.3% from a year ago.

Average refunds have edged down a bit as we moved into March. The average refund, for example, had been as high as $3,536 for earlier returns processed through Feb. 18.

More: Tax refunds hit average $3,536 for millions of early filers