March 31, 2011

WASHINGTON – Here’s a potential boost for the economy: The Internal Revenue Service expects to issue up to $300 billion in tax refunds this year.

IRS Commissioner Doug Shulman told Congress on Thursday the average federal tax refund is about $3,000 this year. The Internal Revenue Service has received a little more than 75 million returns so far, with about 65 million qualifying for refunds.

Shulman said the agency expects to issue refunds totaling $250 billion to $300 billion.

The best way to get a quick refund? File your return electronically, and have the refund deposited directly into your bank account.

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