The Internal Revenue Service (IRS) is still delivering millions of dollars in tax refunds. Great news for those who qualify for a direct deposit from the Agency because, on average, payments are almost 6% higher than in 2024.
For your information, the IRS has issued $124.130 billion, up from $114.740 billion in 2024. Actually, this figure is 8.2% higher than in 2024. A considerable boost that has benefited millions of eligible taxpayers in the United States during the 2025 Tax Season.
IRS confirms average direct deposit refund amounts
As the 2025 Tax Season evolves, taxpayers can know more accurate information regarding tax refund payment amounts. As of February 28, 2025, the average direct deposit refund amount is worth $3,436.
On March 1, 2024, it was $3,244, which means taxpayers got 5.9% less about a year ago. The higher the tax refund is, the better for the taxpayer’s financial situation.
The total amount refunded with direct deposit by the Internal Revenue Service was also lower. In fact, it was $114,740 billion on March 1, 2024. The thing is, many taxpayers have not requested direct deposits. So, paper checks may take much longer.
IRS tax refunds arriving this week
The IRS can issue tax refund payments within 21 days if you meet several requirements. First, you must have filed an accurate and complete tax return. Second, you must have requested direct deposit. Third, filing electronically is required for a faster payment.
- Tax return submitted on Feb. 18: Direct deposit payment may be due on March 11
- Tax return submitted on Feb. 19: Direct deposit payment may be due on March 12
- Tax return submitted on Feb. 20: Direct deposit payment may be due on March 13
- Tax return submitted on Feb. 21: Direct deposit payment may be due on March 14
- Tax return submitted on Feb. 22: Direct deposit payment may be due on March 15
- Tax return submitted on Feb. 23: Direct deposit payment may be due on March 16
- Tax return submitted on Feb. 24: Direct deposit payment may be due on March 17
Those American taxpayers who have not filed yet will be able to do so before the April 15 deadline comes to an end. If you do not have enough time to file, pay your taxes to the IRS, and file to get an extension of time. Use “Where’s my refund?” to see your tax refund status.
