The average person probably isn’t paying taxes on at least one type of income they’re making — the reason is not tax fraud, but ignorance.
According to Heather Berger, a U.S. economist with Morgan Stanley, income tax refunds are expected to increase by 15% to 20% on average in 2026. With the IRS reporting that the average 2025 refund in mid-April was $2,942, taxpayers can expect to receive between $3,200 and $3,500 in 2026, although as of March 6, the average return stands at $3,676.
Also See: These 9 Types of Income Are Not Taxable
Sign Up: Start Growing Your Net Worth With Smarter Tracking
While it’s exciting to think about what you could do with your tax refund, you want to ensure that you file your income taxes correctly so you don’t…