CFR - Code of Federal Regulations Title 21. The information on this page is current as of April 1 2017. For the most up-to-date version of CFR Title 21, go to the Electronic Code of Federal Regulations (eCFR).
To date, the IRS has issued nearly 40 million refunds worth $120 billion, with the average refund worth $2,800. This is slightly more than than last yearâs average refund at the same time.More than 96 percent of refunds have been paid through direct deposit directly into taxpayer accounts.The tax agency still estimates that 9 out of 10 refunds will go out within 21 days from when a return is filed.his is slightly more than than last yearâs average refund at the same time. More than 96 percent of refunds have been paid through direct deposit directly into taxpayer accounts. The tax agency still estimates that 9 out of 10 refunds will go out within 21 days from when a return is filed.
A federal income tax refund is the amount that an individual receives because they overpaid their taxes. The standard processing delay for refunds is between 2 weeks to 1 month. Although, there is no written rule from the IRS, the refund is usually processed quickly as long as there are no issues with the return. When to File. Federal income tax returns can be filed beginning in mid-January of the proceeding year up to April 15th.