The Average Tax Refund Is $4,381. Here's Where People Get the Most Money Back — and What They Spend It On.

About two-thirds (64%) of American taxpayers received a tax refund successful 2024, according to IRS information reported by Bankrate.

How overmuch did they get, connected average? And what did they typically walk it on?

The reply to the erstwhile tin alteration importantly depending connected wherever the taxpayer lives.

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The mean refund for taxation twelvemonth 2022 — the latest disposable full-year information — was $4,381, per a caller study from LendingTree. However, for the 3rd twelvemonth successful a row, Wyoming residents saw the largest mean refunds astatine $6,367, the information revealed.

Taxpayers successful Florida and the District of Columbia received the next-highest refunds astatine $5,934 and $5,848, respectively, according to the report. Additionally, Florida residents enjoyed the astir important percent summation twelvemonth complete twelvemonth astatine 18.6%.

West Virginia residents were near pinch the lowest mean taxation refunds astatine $3,183, followed by those successful Maine ($3,199) and New Mexico ($3,394), per LendingTree.

Two-thirds (66%) of Americans scheme to put their refunded money to applicable use: 34% intend to pay disconnected debt, while 32% want to spot it successful a wide savings account, the study found.

Another 16% of taxation refund recipients were unsure what they would do pinch the money, 14% planned to usage it for a vacation, 14% intended to prevention it for a ample acquisition for illustration a location aliases car, and 11% had allocated it to support family members, per the data.

Fewer respondents had plans to stash their refunds successful a status relationship (10%) aliases put them successful the stock market (9%).

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"There's thing incorrect pinch taking a portion of the return and having immoderate nosy pinch it," LendingTree's main user finance expert Matt Schulz says, "but if you person high-interest indebtedness and you're moving toward large semipermanent financial goals, the immense mostly of the refund should spell toward those things."