The Internal Revenue Service (IRS) has distributed over $124.130 billion in refunds during the 2025 Tax Season, marking an 8.2% increase compared to the previous year. This boost indicates that millions of American taxpayers are receiving larger refunds from the IRS.
In addition to the higher total refund amount, the number of direct deposit refunds has also seen an increase.
The average direct deposit refund is now nearly 6% higher than it was in the 2024 Tax Season, with figures indicating that more refunds are being processed this year. As of February 28, 2025, the IRS has made significant strides in refunding taxpayers.
Higher Average Direct Deposit Refunds for 2025
Many taxpayers are pleased to see that their refunds are larger this year. As of February 28, 2025, the average direct deposit refund is $3,436, reflecting a 5.9% increase compared to the same time last year.
This is a good sign for those who typically depend on refunds to manage finances or make large purchases.
Moreover, the amount refunded through direct deposits is also higher this season, with an 8.2% increase compared to 2024. By February 28, 2025, the IRS had processed 52,402,000 refunds, slightly fewer than last year by about 3%.
Interestingly, fewer refunds have been processed through tax professionals this season, which could reflect changes in how people are filing taxes.
The Rise in Average Refund Amounts for 2025
Taxpayers who received a refund this season are likely seeing a positive increase. The average refund has risen by 6.3% from the previous year, now standing at $3,382, compared to $3,182 in 2024.
However, when comparing the average direct deposit refund to the regular refund amount, the direct deposit refunds are slightly higher by $54.
It’s important to note that not all taxpayers have filed their taxes yet, so these figures may adjust as more returns are processed. Therefore, it’s best to keep an eye on updates to ensure a clearer picture of the final averages.
Filing Deadlines and Extensions
For those who haven’t filed their taxes yet, the IRS has set the final filing deadline for April 15, 2025. This is the last date to submit tax returns and settle any taxes owed to the IRS.
If you need more time to file, it’s still possible to request an extension, but remember that the taxes must be paid on time, even if you extend your filing deadline.
Key Stats of the 2025 Tax Season
| Statistic | Amount for 2025 Tax Season | Percentage Change from 2024 |
|---|---|---|
| Total Refunds Distributed | $124.130 billion | +8.2% |
| Average Direct Deposit Refund | $3,436 | +5.9% |
| Total Refunds Processed Through Direct Deposit | 52,402,000 | -3% |
| Average Refund (All Filing Types) | $3,382 | +6.3% |
| Average Direct Deposit Higher by | $54 |
In the 2025 Tax Season, taxpayers can expect to see higher refunds than last year, with the average refund and direct deposit refunds showing impressive increases.
The IRS has already distributed $124.130 billion, and 52.4 million direct deposit refunds have been processed, though the season is still ongoing.
If you haven’t filed yet, remember that the deadline is April 15, 2025, and extensions are available for those who need more time.
FAQs
What is the deadline to file my taxes for 2025?
The IRS deadline for filing your tax return is April 15, 2025. Ensure you submit your taxes by this date to avoid penalties.
How much higher are the refunds this year compared to last year?
As of February 28, 2025, the total amount of refunds distributed is 8.2% higher than in 2024, and the average direct deposit refund is 5.9% higher.
Can I still file my taxes after the deadline?
Yes, you can file after the deadline, but you will need to request an extension. However, you must pay any taxes owed by the April 15 deadline to avoid penalties.
Why are there fewer refunds processed through tax professionals this year?
The decrease in refunds processed through tax professionals could be attributed to shifts in how taxpayers are choosing to file their returns—potentially opting for online or self-filing methods.