There is a good news for the American taxpayers that the Internal Revenue Service (IRS) is in the tax refund process. Those who are eligible for it are going to receive an average amount of $3,436 as a direct bank deposit. The special thing is that this amount is about 6% more than that of 2024 and is proving to be an economic relief for the taxpayers.
Increase in Tax Refund
The IRS has issued a total of $124.130 billion in refunds so far this year, which is 8.2% more than the $114.740 billion issued in 2024. This increase is becoming good news for millions of American taxpayers who are eligible to receive their refunds during the 2025 tax season.
IRS confirms average direct deposit refund amount
Taxpayers can get information about the amount of their tax refund during the 2025 tax season. As of February 28, 2025, the average direct deposit refund was $3,436. If this is compared to March 1, 2024, the average refund at that time was $3,244. This means that taxpayers are receiving about 5.9% more refunds this year than last year. More tax refunds mean that taxpayers will be in a stronger financial position, which will provide them financial relief.
Decrease in the number of people receiving refunds 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 increased this year. However, many taxpayers have not yet opted for direct deposit. They will receive payments through paper checks, which will increase the process and take more time to access the money.
IRS tax refunds will arrive this week
- The IRS typically processes tax refunds within 21 days, subject to certain conditions.
- Requirements for getting a quick refund:
- Submitted a true and accurate tax return.
- Asked for direct deposit.
- Submitted the tax return electronically.
If you submitted your tax return on the following dates, you can get a refund by this date:
- Filed on February 18 – can get a refund by March 11.
- Filed on February 19 – can get a refund by March 12.
- Filed on February 20 – can get a refund by March 13.
- Filed on February 21 – can get a refund by March 14.
- Filed on February 22 – can get a refund by March 15.
- Filed on February 23 – can get refund by March 16.
- Filed on February 24 – can get refund by March 17.
How to Check Tax Filing Last Date and Refund Status
US citizens who have not yet submitted their tax returns can submit it before the last date of April 15. If a person cannot submit the return on time, he or she should request the IRS to extend the last date by paying the tax.
Also, individuals can monitor the status of tax refund using the IRS’s “Where’s My Refund?” application. It helps taxpayers to get live status information of their refund.
Conclusion
The tax refunds to be issued by the IRS are going to be a financial boon for taxpayers this year. The average refund this year has increased compared to 2024, which will be more beneficial for taxpayers. If you haven’t filed your tax return yet, file it as soon as possible, so you can receive your refund on time.
FAQs
Q1. When will I get my IRS tax refund?
A1. 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?
A2. 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?
A3. Delays can occur if your tax return has errors, documents are missing, or you opted for a paper check instead of direct deposit.
Q4. How can I check the status of my tax refund?
A4. You can track your refund status using the “Where’s My Refund?” tool on the IRS website.