Not all American taxpayers qualify for a tax refund. However, the latest statistics that the IRS has unveiled are very positive. Not only is the number of direct deposit refunds higher so far in 2025, but it also brings more money.
As a matter of fact, the average direct deposit refund amount is 5.3% higher. The average amount during the 2024 tax season was $3,209 on March 8 last year. Still, it was a great payment amount.
IRS direct deposit amounts increase
The current average direct deposit refund amount is $3,379. Bear in mind that many Americans rely on their tax refund money to make necessary purchases or expenses. So, it is a considerable amount of money.
The IRS claims that it has deposited $143.712 billion as of March 7, 2025. That is a staggering 7.3% more than in the 2024 Tax Season, so it is beneficial for taxpayers who qualify.
In total, the IRS has processed more than 42,533,000 in 2025. For your information, it was just 41,719,000 on March 7, 2024. The average refund amount is also higher. It’s about 5.7% more than in 2024. The current average refund amount is $3,324, up from $3,145.
IRS deadline to claim average refunds of $3,379
The Agency will allow taxpayers to file their 2024 tax return until April 15, 2025. However, it is advisable to do it as soon as possible because you may need additional time to gather any necessary documents you lack.
If you realize you do not have the necessary documents on April 15, you may not be able to file on time. Thus, start gathering all the documents you will need like:
- W-2 Form
- Earnings and interest statements like 1099 and 1099-INT Forms
- receipts for charitable donations
- bank account and routing number
- SSN
- Your AGI and exact refund amount from last year’s tax return, if you filed
If you do not have enough time to file before April 15, 2025, make sure you get an extension of time. In this way, you will pay the taxes you owe the IRS and then you will be able to file through October 15, 2025.
