IRS Issues $124.13 Billion in Refunds – Check Your Average Payment Now!

The US Internal Revenue Service, or IRS, has issued $124.130 billion in direct deposits to date during the 2025 tax season. That is approximately 8.2% higher compared to 2024. It implies that there are millions of American taxpayers getting more funds from the IRS during the current year.

Boost in Tax Refunds

The amount of tax refunds made directly into accounts by direct deposit have also been larger this year than the previous year. Indeed, the average size of direct deposit refunds in 2025 so far is up by around 6% on 2024. Both the quantity of direct deposit refunds so far in 2025 as of February 28 and the average size thereof have increased.

Average Direct Deposit Tax Refund Details

Millions of US taxpayers anticipate that they will receive higher amounts in terms of tax refunds. At the moment, the direct deposit refund average amount stands at $3,436. This is a 5.9% increase as of February 28, 2025, compared to March 1, 2024.

Additionally, the combined sum returned by the IRS through direct deposit is 8.2% greater than the previous year. Up to February 28, 2025, the IRS received a combined 52,402,000 tax returns. Still, this amount is approximately 3% lower than it was in 2024.

The other fact that stands out is that tax refunds filed by taxpayers using the assistance of tax professionals are fewer this year during the 2025 tax season.

IRS Average Refund Amount

For those taxpayers who are getting tax refunds, it is a piece of good news that the average refund amount this year is 6.3% more than in 2024. The average refund amount is now $3,382, which is higher than $3,182 in 2024.

If the average tax refund amount is compared to the average direct deposit amount, the amount received via direct deposit is slightly higher. In fact, the amount of direct deposit is $54 higher on average.

Tax Filing Deadline

It should be noted that a lot of taxpayers are still yet to file their tax returns. The average sum will thus shift in the coming weeks. When all taxpayers submit their tax returns, the statistics will be more balanced.

Taxpayers are being given permission by the IRS to file tax returns by April 15, 2025. This will be the final deadline to submit your taxes and pay any due taxes.

If you require additional time to submit a tax return, the best option is to prepay your taxes and then file for an extension with the IRS to file your 2024 tax return. But avoid procrastination up to the last moment, as late filing can lead to penalties and interest.

In short, the IRS has thus far returned more funds to taxpayers during the 2025 tax season than it did during 2024. Both the direct deposit refunds and average tax refund have increased, providing relief to millions of taxpayers.

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