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Which Generation Thinks They’ll Get the Biggest Tax Refund This Year? GOBankingRates 5/4/2021 Gabrielle Olya © DNY59 / Getty Images/iStockphoto The portrait of Benjamin Franklin on the one hundred dollar bill peering from behind a check issued by the U.
The average tax refund amount in 2020 was $2,707, but 28% of Americans expect to get a smaller tax refund this year, according to a recent survey conducted by IPX 1031. Still, some generations are more optimistic than others about what the size of their tax refund will be in 2020.
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Which Generation Expects To Get the Most?
The average American expects to get back $2,059 this year, the IPX 1031 survey found. But millennials expect to get more than that the average amount millennials expect to get as a tax refund is $2,232, which is more than any other generation. Gen X expects to get the second-largest tax refund, with an expected refund amount of $2,097, followed by Gen Z, with an expec