By Jeanne Sahadi@CNNMoneyMarch 6, 2014: 2:56 PM ET
NEW YORK (CNNMoney)
Four weeks into tax season, the IRS paid out more than 48 million refunds, at an average of $3,034 a pop. That's up 3% from the average refund paid during the same period last year, the agency said Thursday.
All together, the IRS sent out roughly $147 billion in refunds between Jan. 31 and Feb. 28, the majority of which was direct deposited into filers' bank accounts.
The agency also said it received nearly 59 million returns during those four weeks - or about 40% of all the returns it expects to get during the 2014.