The 2025 tax filing season commenced on January 27, 2025, with the IRS anticipating over 140 million individual tax returns by the April 15 deadline. Tax refunds are issued to taxpayers who have overpaid their income taxes throughout the year. The average tax refund for the 2024 tax season was $3,138, with nearly 105 million refunds processed, totaling more than $329 billion. (time.com)
When to Expect Your Tax Refund
The timing of your tax refund depends on several factors, including how and when you file your return:
- E-Filed Returns with Direct Deposit: Refunds are typically issued within 10 to 21 days after the IRS accepts your return. (fox5atlanta.com)
- Mailed Paper Returns: Processing can take between 4 to 8 weeks.
It’s important to note that filing during peak tax season, particularly from late March to mid-April, may result in longer processing times due to the high volume of returns.
Factors Affecting Refund Timing
Several elements can influence the timing of your refund:
- Tax Credits: Claims involving the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) may require additional verification, potentially delaying refunds. The IRS cannot issue EITC and ACTC refunds before mid-February. For most early filers claiming these credits, the IRS expects the related refunds to be available in bank accounts or on debit cards by March 3, 2025, if they chose direct deposit and there are no other issues with their tax return. (irs.gov)
- Accuracy of Information: Errors or incomplete information on your return can lead to processing delays.
- Filing Method: Electronic filings are processed faster than paper returns.
How to Track Your Refund
The IRS provides tools to help you monitor the status of your refund:
- Online: Use the “Where’s My Refund?” tool on the IRS website.
- Mobile App: Download the IRS2Go app to check your refund status.
To access your refund status, you’ll need your Social Security or Individual Taxpayer Identification Number (ITIN), your filing status, and the exact refund amount as shown on your return. The tool provides three status updates: “Return Received,” “Refund Approved,” and “Refund Sent.” (time.com)
Tips to Expedite Your Refund
To ensure a quicker refund process:
- File Early: Submitting your return as soon as possible can lead to a faster refund.
- Choose Direct Deposit: Opting for direct deposit can speed up the receipt of your refund compared to a mailed check.
- Double-Check Your Return: Ensure all information is accurate and complete to avoid processing delays.
- Stay Informed: Utilize the IRS “Where’s My Refund?” tool to track the status of your refund.
Conclusion
Understanding the tax refund process can help you manage your expectations and plan accordingly. By filing accurately and choosing electronic filing with direct deposit, you can expedite the receipt of your refund. Always use official IRS resources to track your refund and stay informed about any updates during the tax season.
