Average IRS tax refund is up 10.9%, latest filing data shows

What: The average IRS tax refund has increased by **10.9%** based on new filing data.
Why: This surge is attributed to changes in tax laws and increased income levels.
Signal: The rise in tax refunds indicates a potential boost in consumer spending and economic growth.
Target: Taxpayers can expect to receive larger refunds, averaging higher than previous years.
Risk: However, the increased refund amounts may also lead to higher tax liabilities in the future.