📺 Stream EntrepreneurTV for Free 📺

Here's How Much Mark Cuban Is 'Proud' to Pay in Taxes This Year — And What To Do If You're Still Scrambling to File Your Tax Return The average tax refund went up to $3,011 this year.

By Sherin Shibu

Key Takeaways

  • Mark Cuban will pay $288 million in taxes on Monday.
  • The IRS has revealed that Americans who filed from January through early April received more than $200 billion in refunds.
entrepreneur daily

It's Tax Day.

Even if you've waited until the last day to file your taxes, you're not alone — millions of people will file their tax returns today, including billionaire businessman and 13-year "Shark Tank" staple, Mark Cuban.

Cuban took to X, formerly Twitter, on Sunday to answer a question posed by a user who asked if Cuban pays more than the required amount of taxes.

"I pay what I owe," Cuban posted, adding that on Monday, he would wire transfer $288 million to the IRS.

Mark Cuban. Photo by Mike Stobe/Getty Images

Cuban also wrote that it was "unreal" to handle that amount of money.

"Never in my wildest dreams did I think I would be here," he stated.

Related: Mark Cuban Says This Is the 1 Thing He'd 'Do Differently' in Life

Like Cuban, a spate of Americans will file their taxes on Monday. IRS Commissioner Danny Werfel told CNN Business that the IRS received more than 100 million returns as of Friday and expects to receive "tens of millions more returns" by the deadline.

"We're seeing a flurry of tax returns coming in during the final hours," Werfel stated.

Taxes are due by 11:59 p.m. today in individual-specific time zones, with a few exceptions.

The IRS revealed on Monday that Americans who filed from January through early April received more than $200 billion in refunds, with the average refund being $3,011 — up from the $2,878 average last year.

Related: 'Don't Follow Your Passion': Mark Cuban Shares the 'Worst Piece' of Business Advice He's Ever Received

How to File a Tax Return on Deadline Day

For those scrambling to file their taxes Monday, the IRS has free resources available, including Direct File, a program piloting in 12 U.S. states this year that allows taxpayers to file directly with the IRS. New York, California, Florida, Texas, and Washington are all states covered by Direct File this year.

Those with incomes of $79,000 or less can file taxes for free through a trusted IRS Free File partner, including TaxAct, FileYourTaxes, and FreeTaxUSA.

Anyone who needs more time to file has the option of requesting an extension by today that pushes the deadline six months ahead to October 15. The extension only applies to the filing, not to the balance — so even with an extension, taxpayers still have to pay what they owe by the April 15 deadline or face added late fees and penalties.

The IRS predicted that about 19 million Americans will file for an extension this year.

Related: 'It's Time': Mark Cuban Is Leaving 'Shark Tank'

Sherin Shibu

Entrepreneur Staff

News Reporter

Sherin Shibu is a business news reporter at Entrepreneur.com. She previously worked for PCMag, Business Insider, The Messenger, and ZDNET as a reporter and copyeditor. Her areas of coverage encompass tech, business, strategy, finance, and even space. She is a Columbia University graduate.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."

Business News

These Are the 10 Most Profitable Cities for Airbnb Hosts, According to a New Report

Here's where Airbnb property owners and hosts are making the most money.

Business News

Samsung's New Ad Pokes Fun at Apple's Controversial 'Crush' Ad

Creative universes overlap in a new ad from Samsung.

Starting a Business

This Couple Turned Their Startup Into a $150 Million Food Delivery Company. Here's What They Did Early On to Make It Happen.

Selling only online to your customers has many perks. But the founders of Little Spoon want you to know four things if you want to see accelerated growth.


Want to Be More Productive? Here's How Google Executives Structure Their Schedules

These five tactics from inside Google will help you focus and protect your time.