According to the Internal Revenue Service, the average refund last year was almost $3,000. That’s a lot of money. If you are getting a huge refund back this year, you may want to double-check your withholding amount. Withholdings are the taxes your employer takes from each paycheck. You can change your withholdings by filling out a new W-4 form and submitting it to your employer.
Melanie Stetson Freeman/The Christian Science Monitor/File
Volunteer Bill Leonard helps Sue Blatsos with her taxes as part of a free tax service through the AARP, which aids seniors and low income people, at the Devonshire Senior Center in Phoenix in this 2007 file photo.