The IRS has already issued 22 million refunds, at an average $3,536 each.
That’s $700 more than last year, when the average refund was just over $2,800.
For most people, a lump-sum payment of this size is rare.
“The tax refund is often the biggest windfall households receive all year,” said Greg McBride, chief financial analyst at Bankrate.com.
In order to make the most of that money, experts recommend focusing on the long-term, particularly if you’ve been been hit hard by the coronavirus crisis. Here are three ways to invest your tax refund in your future.