As the 2025 tax season commenced on January 27, 2025, the Internal Revenue Service (IRS) has begun accepting, processing, and disbursing tax refunds for individual returns from 2024. Typically, refunds are issued within 21 days for returns filed electronically, though delays may occur due to errors, specific credits, or chosen filing methods.
As we reach the end of March, individuals who filed their tax returns early in the season are now eagerly awaiting their direct deposits or paper checks. However, the first to receive refunds in the coming days will be those who meet an additional criterion: they utilized the “e-filing” method, meaning they submitted their taxes electronically rather than on paper.
Where’s My Refund? A Surge in Tax Refunds Arriving Next Week
According to the 2025 refund schedule, taxpayers who e-filed between February 24 and March 2, 2025, can expect to receive their refunds between March 22 and March 31. The following table outlines the estimated dates:
- Electronic filing date range: February 24 to March 2, 2025
- Direct deposit refund date: March 22, 2025
- Mailed check refund date: March 29, 2025
The filers include those who submitted early in the season—many of whom might still be waiting for forms like the W-2—or those who prefer to file right before the peak filing period that typically occurs in late March and April.
It’s important to note that refunds issued to taxpayers prior to mid-February do not encompass tax credits like the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), which may influence averages in subsequent periods.
The Average Tax Refund in 2025 Has Increased
To ascertain the exact average refunds for 2025, we will need more current data; as of now, the IRS has yet to publish updated statistics. However, based on figures available until March 7, 2025, they suggest that the average refund was $3,324.
This average pertains to the sixth week of the tax season and indicates a 7.2% increase in total refunds issued (amounting to $145 billion) compared to the same timeframe in 2024.
In the beginning, the average refunds were lower; for instance, as of February 14, 2025, the average stood at $2,169. This rise in the average can be attributed to the initial refunds not accounting for tax credits like the EITC or ACTC, which are awarded after mid-February each year.
During the period from March 22-31, it is reasonable to presume that the average of $3,324 is indicative, considering it includes a larger volume of processed returns. Historical patterns suggest that the average refund could rise even further in the coming weeks.
