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Yes, income tax refunds are income in the subsequent year. It would have been income in the prior year if you hadn't overpaid your taxes, so the nature of the funds coming in is considered income.
And, as pjp mentioned, you're simply giving the Federal government an interest-free loan of your money. Very nice of you, but do you really want to do that, when your money could be working for you rather than the Feds?
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