Sen. Rick Scott, R-Fla., weighs in on a serious leak from a former IRS contractor and argues there’s a double customary for accountability on The Backside Line.
New information from the Inside Income Service (IRS) reveals that the common tax refund acquired by American taxpayers within the 2024 tax submitting season up to now is increased than these disbursed a yr in the past.
IRS information by means of Feb. 28, 2025, present that the common tax refund quantity for tax returns filed by means of that date was $3,382. That is about 6.3% increased than the common refund of $3,182 by means of Mar. 1, 2024.
The information additionally confirmed that the full variety of refunds and quantity refunded to taxpayers so far is outpacing final yr.
By way of Feb. 28, the full variety of refunds issued is up 1.7% from final yr to a little bit greater than 36.9 million issued to this point within the 2024 tax submitting season. The whole quantity refunded has seen a bigger enhance up to now, with $124.8 billion refunded – up 8.1% from final yr.
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The Inside Income Service (IRS) reported that common tax refunds are increased than a yr in the past by means of the primary month of the submitting season. (Kayla Bartkowski/Getty Photos) / Getty Photos)
The overwhelming majority of taxpayers obtain their refunds by means of direct deposit – of the 36.9 million refunds issued, over 36.1 million, or roughly 98%, have been paid through direct deposit.
The whole variety of direct deposit refunds can be up 2.2% from a yr in the past, whereas the full quantity refunded has elevated by practically $10 billion, or 8.2%, to $124 billion by means of Feb. 28.
Common tax refunds issued by means of direct deposit have additionally elevated in measurement from a yr in the past, rising from $3,244 at this stage of the submitting season final yr to $3,436 this yr – a rise of 5.9%.
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The IRS points tax refunds when taxpayers pay greater than they owe over the course of the yr. (Tasos Katopodis/Getty Photos) / Getty Photos)
The IRS points refunds to taxpayers who’ve paid extra in taxes than they owe.
Refunds might be issued by direct deposit right into a checking, saving, or retirement account – together with by being divvied up into as many as three completely different accounts.
The IRS can also mail paper checks to taxpayers, whereas different choices embody pay as you go debit playing cards, some cell cost apps, or deposit into an particular person retirement account (IRA).
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The IRS might mail tax refund checks to taxpayers who decline to make use of direct deposit. (iStock / iStock)
Taxpayers who anticipated direct deposit refunds however acquired a paper verify might have gotten the paper verify as a result of the direct deposit account is not below their title, their partner’s title or a joint account; as a result of the monetary establishment rejected a direct deposit; or greater than three digital refunds have been requested for one account.
Taxpayers can verify on the standing of their tax refund by utilizing the IRS’ “Where’s My Refund” instrument to see the standing of their refund. Data seems about 24 hours after a taxpayer submits a present yr return, or 4 weeks after they file a paper return. For prior yr returns, it takes about 3 or 4 days to seem within the system.
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The IRS updates the The place’s My Refund instrument as soon as a day in a single day and is mostly unavailable every morning between 4 and 5 a.m. Japanese whereas the updates are processed.
To make use of the The place’s My Refund instrument, taxpayers want their Social Safety or particular person taxpayer ID quantity, their submitting standing, and the precise refund quantity on their return.
