It is a piece of good news for American taxpayers that the Internal Revenue Service (IRS) remains in the process of tax refund. Such people who are eligible for it are going to receive a straight bank deposit of a total amount of $3,436 on average. The unique thing is that this figure is approximately 6% greater than in 2024 and proving to be an economic relief for the taxpayers.
Tax refund increase
The IRS has released a total of $124.130 billion in refunds so far this year, an 8.2% increase from the $114.740 billion released in 2024. This rise is turning out to be good news for millions of U.S. taxpayers who are eligible to receive their refund during the 2025 tax season.
IRS Confirms Average Direct Deposit Refund Amount
Taxpayers can obtain information on the amount of their tax refund during the 2025 tax season. Through February 28, 2025, the average direct deposit refund was $3,436.
If compared to March 1, 2024, the average refund at that time was $3,244. This means that taxpayers are getting about 5.9% more refund this year compared to last year. More tax refund means that taxpayers will have a stronger financial position, which will give them financial relief.
Decrease in the number of people receiving refund through direct deposit
The amount of tax refunds paid by the IRS under direct deposit was $114,740 billion on March 1, 2024, and it has risen this year. Many taxpayers, however, have not chosen direct deposit yet. They will receive payment by paper check, extending the process and taking longer to access the funds.
IRS tax refunds will come this week
The IRS typically processes tax refunds within 21 days, subject to some conditions.
Requirements for receiving a quick refund:
- Submitted a correct and accurate tax return.
- Asked for direct deposit.
- Submitted tax return electronically.
If you submitted your tax return on the below dates, you can receive a refund by this date:
- Filed on February 18 – Can receive refund by March 11
- Filed on 19th February – Refund can be obtained by 12th March.
- Filed on 20th February – Refund can be obtained by 13th March.
- Filed on 21st February – Refund can be obtained by 14th March.
- Filed on 22nd February – Refund can be obtained by 15th March.
- Filed on 23rd February – Refund can be obtained by 16th March.
- Filed on 24th February – Refund can be received by 17th March.
Tax Filing Deadline and How to Check Refund Status
US citizens who have not filed their tax returns so far can file it before the deadline of 15th April. If someone cannot file the return on time, he should ask the IRS to extend the deadline by paying the tax.
Also, individuals can use the IRS’s “Where’s My Refund?” application to monitor the status of tax refund. It assists taxpayers in obtaining live status information of their refund.
Conclusion
The tax refunds that the IRS is going to release are going to be a financial boon for taxpayers this year. The average refund has gone up this year as compared to 2024, which will be more beneficial for taxpayers. If you haven’t filed your tax return yet, file it as early as possible, so that you can receive your refund on time.
FAQs
Q1. When will I receive my IRS tax refund?
If you filed an accurate tax return electronically and opted for direct deposit, you should receive your refund within 21 days of filing.
Q2. What is the average IRS tax refund amount in 2025?
As of February 28, 2025, the average direct deposit tax refund is $3,436, which is about 5.9% higher than in 2024.
Q3. Why is my tax refund delayed?
Delays may occur if there are errors in your tax return, missing documents, or if you opted for a paper check instead of direct deposit.
Q4. How can I check my tax refund status?
You can track your refund status using the “Where’s My Refund?” tool on the IRS website.
Q5. What is the last date to file my 2025 tax return?
The deadline to file taxes is April 15, 2025. If you need more time, you can request an extension.