The IRS keeps updating the average refund amounts during the 2025 Tax Season. As a matter of fact, the average refund amounts are much higher than in the previous year. Actually, the average refund amount is 3.3% higher than in 2024. This is the latest update as of April 18, 2025. In 2025, taxpayers receive $2,942 on average for their refund, up from $2,850.
Direct deposits are still higher than average refund amounts in 2025. However, they have not increased so much if compared to the average direct deposits issued by the IRS last year. An interesting fact is that the increase in the average direct deposit is very similar to the Social Security COLA increase for 2025, 2.6% while COLA is just 2.5%.
IRS Estimated Payment Schedule
For your information, there are no fixed payment dates for 2024 tax refunds. The IRS cannot confirm when your tax refund payment will be delivered if you qualify for one because there are different factors. For example, when you see a sent date, it could take up to five days to receive your money due to banks’ processing times.
However, it is possible to know when a tax refund could possibly arrive if you meet these requirements. Generally, IRS tax refunds are delivered within 21 days if you filed electronically, requested direct deposit, and submitted an accurate, complete, and signed tax return.
- Estimated tax refund payment on May 1: taxpayers filed their tax return on April 10
- Estimated tax refund payment on May 2: taxpayers filed their tax return on April 11
- Estimated tax refund payment on May 3: taxpayers filed their tax return on April 12
- Estimated tax refund payment on May 4: taxpayers filed their tax return on April 13
- Estimated tax refund payment on May 5: taxpayers filed their tax return on April 14
- Estimated tax refund payment on May 6: taxpayers filed their tax return on April 15
- Estimated tax refund payment on May 7: taxpayers filed their tax return on April 16
- Estimated tax refund payment on May 8: taxpayers filed their tax return on April 17
- Estimated tax refund payment on May 9: taxpayers filed their tax return on April 18
- Estimated tax refund payment on May 10: taxpayers filed their tax return on April 19
Which taxpayers will receive $3,023 from the IRS in May?
Actually, this will depend on your tax liability and the tax credits you qualify for. The IRS always pays what each taxpayer qualifies for if they claim all the tax credits they may be entitled to.
Therefore, it is important to take into account that $3,023 is just an average direct deposit amount. So, the Agency will make a tax refund payment made to measure for each taxpayer.
The thing is, you should check your eligibility for any tax credit available. Here are the most common ones:
- Child Tax Credit (CTC) – For taxpayers with qualifying children.
- Earned Income Tax Credit (EITC) – For low- to moderate-income workers.
- American Opportunity Tax Credit (AOTC) – For undergraduate education expenses.
- Lifetime Learning Credit (LLC) – For postsecondary education costs.
- Child and Dependent Care Credit – For childcare or dependent care expenses.
- Saver’s Credit – For contributions to retirement savings accounts.
- Premium Tax Credit (PTC) – For health insurance purchased through the Marketplace.
- Residential Energy Efficient Property Credit – For qualified energy-efficient home improvements.
- Adoption Credit – For qualified adoption expenses.
- Foreign Tax Credit – For taxes paid to a foreign country.