Wisconsin ranks among states with the lowest average tax refunds, study says
Wisconsin ranks among the 10 states with the lowest average tax refunds, according to an analysis by LendingTree, an online lending marketplace.
In tax year 2022, the last year with available data, Wisconsin residents received an average refund of $3,580, which ranks 43rd among the 50 states and Washington, D.C. That's more than $800 lower than the national average of $4,381 that year.
There is some good news for Wisconsin taxpayers: average refunds statewide have increased nearly $600 since 2018, according to LendingTree. Between 2020 and 2021, in particular, Wisconsin residents received an average refund that was more than $400 higher.
To compile the ranking, LendingTree analyzed federal individual income tax returns filed between Jan. 1 and Dec. 31, 2023 for tax year 2022. It also surveyed nearly 2,000 U.S. consumers earlier this month on their views on tax returns, finding two-thirds of respondents plan to put their tax return in a savings account or use it to pay off debt.
Here's which states saw the lowest and highest average tax returns and how Wisconsin compares:
Here are the states with the lowest average tax refunds for tax year 2022, according to LendingTree:
West Virginia ($3,183)
Maine ($3,199)
New Mexico ($3,394)
Oregon ($3,472)
Kentucky ($3,490)
Iowa ($3,537)
Ohio ($3,562)
Vermont ($3,575)
Wisconsin ($3,580)
Minnesota ($3,686)
Here are the states with the highest average tax refunds for tax year 2022, according to LendingTree:
Wyoming ($6,367)
Florida ($5,934)
Washington, D.C. ($5,848)
Connecticut ($5,284)
New York ($5,263)
Massachusetts ($5,092)
Nevada ($5,090)
Texas ($4,291)
Illinois ($4,604)
New Jersey ($4,541)
If you filed state taxes electronically in Wisconsin, then you should receive your refund in less than 12 weeks, according to the Wisconsin Department of Revenue.
Similarly, most federal refunds are issued within three weeks of electronic filing, according to the IRS.
Paper tax returns, meanwhile, can take longer to process on the state and federal level. Refunds can take anywhere from six to eight weeks from the date the IRS gets a paper return.
You can check the status of your Wisconsin state tax refund online on the state's portal, and the status of your federal tax refund online using the IRS' "Where's My Refund?" tool.
More: Could IRS layoffs delay tax refunds for Wisconsinites?
This article originally appeared on Milwaukee Journal Sentinel: What's the average tax refund in Wisconsin?
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