The average federal tax refund is running 10.9% higher than at the same point last year, according to early filing data released Friday by the Internal Revenue Service.

The 2026 tax season opened Jan. 26. As of Feb. 6, the average refund was $2,290, compared with $2,065 at roughly the same time in 2025, the IRS reported.

Total refunds issued so far top $16.9 billion, up 1.9% from a year earlier. The figure reflects returns processed for the current filing season.

Treasury Secretary Scott Bessent, who is also acting IRS commissioner, said earlier Friday on CNBC's "Squawk Box" that refunds were up 22%, though it was not immediately clear what time frame or comparison period that figure covered.

In its release, the IRS said "average refund amounts are strong," noting that the number is expected to rise further once the agency begins issuing refunds that include the earned income tax credit or the additional child tax credit.

Those payments are typically released later in the filing season due to federal safeguards aimed at preventing fraud.

Tax policy experts caution that early-season data can fluctuate.

"Early data [for refunds] can be deceiving," Andrew Lautz, director of tax policy for the Bipartisan Policy Center, wrote in a tax season guide published Jan. 22.

Refunds are generally issued when taxpayers have overpaid during the year through paycheck withholdings or estimated tax payments.

Those who have not paid enough throughout the year may instead owe a balance to the IRS, CNBC reported.

The IRS has received more than 1 million fewer returns than at the same point last year, though officials expect the gap to narrow as more taxpayers gather their documents and file in the coming weeks.

In recent filing seasons, average refunds have started lower in January before climbing sharply in mid-February, according to Lautz.

After peaking, the average income tax refund has historically declined slightly as the April 15 filing deadline approaches.

For reference, the average refund for individual filers in the 2025 season was $3,052 as of Oct. 17, according to IRS data.

With midterm elections approaching, refund sizes have become a political talking point.

President Donald Trump has said 2026 will be the "largest tax refund season of all time," citing changes enacted in his One Big Beautiful Bill Act.

The legislation created new tax breaks for 2025, and the IRS did not adjust paycheck withholdings to reflect those changes, which could result in larger refunds for some workers.

Experts note that outcomes will vary depending on individual tax situations and how much was paid in last year, according to the report.

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