The average American tax refund is higher. Here’s how you can use it to build long-term wealth

• The average tax refund is over $3,300 this year, according to the IRS—but financial experts say that means you are giving the government a free short-term loan

Time is ticking for you to get your tax return filed this year—with April 15 now less than a month away. But there’s good news: you might be getting more back than expected.

This year’s average tax refund is $3,324—up 5.7% compared to last year when it was just $3,145, according to the Internal Revenue Service (IRS).