Federal tax refunds through March are down by more than $6 billion from last year, according to information from the IRS.
Through March 2019, refunds have reached $206.1 billion vs. $212.3 billion in March 2018. That reflects a decrease of about 2.9 percent.
The number of tax returns filed so far this year is also down by about 1.3 million compared to last year.
There have been more than 1.6 million fewer refunds so far this year than through this time period in 2018. And the average refund is about $20 less than last year at around $2,873.
This is the first year the many returns will reflect some of the changes under the law.