Tax Refunds Up, But Falling Short of Trump’s $1,000 Promise (1)

Americans’ tax refunds are averaging about $350 higher than this time last year but so far running well below the extra $1,000 President Donald Trump promised after passage of his signature economic legislation.

Refunds averaged $3,623 through March 13, 11% higher than the same point last year, according to data the IRS released Friday. Nearly half of anticipated returns already have been filed.

Average refunds typically decline as the tax season progresses since people who anticipate large refunds generally apply for them sooner while those who have to pay the government tend to wait. Still, the size of refunds also ...