Created: 03/07/2014 6:21 AM WHEC.com
The deadline to file your taxes is closing in but already about 40-percent of Americans have filed their returns and refunds are up.
The IRS says that the average tax refund is up three-percent so far this year to just over $3,000. If your refund is direct deposited, the average refund is slightly higher.
With that money, surveys show that most Americans plan to use their refund toward paying off their bills.
According to some experts, the higher refunds are due to more taxpayers qualifying for the earned income tax credit.
The earned income tax credit is meant for those lower income filers who are underemployed due to changes in their job status.
If you do qualify for the credit, it can reduce your tax obligation and result in a refund.