New Delhi, April 26 -- Americans this year are getting bigger tax refunds, and many are now deciding how to put that extra cash to work. The US Treasury Department, in a Tax Day release, said that as of April 14, the average refund this filing season topped $3,400, up 11 per cent from last year.

According to The Hill, the Internal Revenue Service (IRS) issued roughly 70 million tax refunds through April 4, compared to approximately 68 million during the same time last year and about 66.8 million in 2024.

According to a survey conducted by Experian last month, roughly one-third of 1,000 respondents planned to save their refunds, marking an increase of two percentage points compared to the same survey conducted last year.

One in five res...