Not all taxpayers in the United States get a tax refund, but recent figures released by the IRS (Internal Revenue Service) are quite positive. The number of direct deposits so far in 2025 has been higher and it also brings a larger amount.
IRS Direct Deposit Refund Increase
According to the IRS, the average direct deposit refund amount has increased by 5.3% in 2025. During the 2024 tax season, the average refund amount as of March 8 was $3,209, which was already a decent amount. But in 2025, this amount has increased to $3,379.
Many US taxpayers use their tax refund to make essential purchases or meet expenses, so this increase is important for them. The IRS has deposited a total of $143.712 billion into taxpayer accounts as of March 7, 2025, which is 7.3% more than in 2024. This is a win-win situation for taxpayers who are eligible for a refund.
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Number of Tax Returns Processed by IRS in 2025
The IRS has processed more than 42,533,000 tax returns so far in 2025, while the number was 41,719,000 as of March 7, 2024. The average refund amount has also increased by 5.7% compared to 2024. Last year the amount was $3,145, while this year it has increased to $3,324.
Deadline to claim average refund of $3,379
The IRS has given taxpayers until April 15, 2025 to file their 2024 tax returns. However, it is advisable to file it as early as possible, so that you have enough time to collect the required documents.
If on April 15 you realize that you do not have the required documents, it may be difficult to file the return on time. Therefore, it is necessary to prepare beforehand. You will need the following documents for tax filing:
- W-2 Form (Statement of your income)
- Income and Interest Statement (1099 and 1099-INT Forms)
- Receipts for amounts donated to charity
- Bank account and routing number
- Social Security Number (SSN)
- Exact amount and Adjusted Gross Income (AGI) of last year’s tax refund if you filed
Option to extend tax filing deadline
If you are not ready to file your tax return before April 15, 2025, you should request an extension. This will give you time to pay the tax and then you will be able to file by October 15, 2025.
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Conclusion
2025 sees a significant increase in tax refunds from the IRS. This is a relief for millions of Americans who depend on tax refunds to meet their financial needs. If you want to complete the tax filing process smoothly, collect the necessary documents on time and file your return before the deadline of April 15. If you need more time, the option to extend the deadline by ensuring tax payment is also available.
FAQs
Q1. What is the average tax refund amount in 2025?
The average tax refund amount for 2025 is $3,379, which is a 5.3% increase from 2024.
Q2. When is the deadline to file taxes for the 2024 tax year?
The deadline to file your 2024 tax return is April 15, 2025. If needed, you can request an extension until October 15, 2025.
Q3. How much has the IRS deposited so far in refunds?
As of March 7, 2025, the IRS has deposited $143.712 billion in tax refunds, which is 7.3% more than in 2024.
Q4. What documents are needed to file a tax return?
You will need a W-2 form, 1099/1099-INT forms, bank details, your Social Security Number (SSN), and last year’s AGI and refund amount.
Q5. Can I still get a refund if I miss the April 15 deadline?
Yes, but you must request an extension before the deadline. This will give you until October 15, 2025, to file your return.