IRS tax refund 2026 update: returns down 12.3% — is your direct deposit delayed and what does “Where’s My Refund?” reveal?

IRS tax refund 2026 update: IRS processed 20.6 million tax returns through February 6, down 12.3% year over year, while the average tax refund rose to $2,290, up 10.9%. The 2026 tax season started slower. Tax refunds are now arriving for early filers. E-file and direct deposit refunds usually come within 21 days. Paper tax returns can take six to eight weeks. Use “Where’s My Refund?” on IRS.gov to check refund status daily.