The 2025 tax season officially began on January 27, 2025, with the Internal Revenue Service (IRS) actively processing and issuing refunds for 2024 individual tax returns.
Taxpayers who filed their returns electronically can typically expect refunds within 21 days, although certain delays may occur due to issues such as filing methods, errors, or specific credits.
As we approach the end of March 2025, many taxpayers who filed early in the season are eagerly awaiting their refunds, either through direct deposit or paper checks. The earliest refunds are expected to go to those who utilized electronic filing (e-filing), which has become a preferred method for many due to its speed and convenience.
Where’s My Refund? Big Refunds Arriving Soon
For taxpayers who filed electronically between February 24 and March 2, 2025, refunds are anticipated to be issued between March 22 and March 31, 2025. This is the first wave of refunds for this group. Below is a breakdown of the estimated refund schedule for this period:
| Electronic Filing Date Range | Direct Deposit Refund Date | Mailed Check Refund Date |
|---|---|---|
| February 24 to March 2, 2025 | March 22, 2025 | March 29, 2025 |
These filers could be those who submitted their returns early in the season, perhaps waiting for forms like the W-2, or those who prefer to file early but not too close to the busy late March and April period.
Important Reminder on Tax Credits
It’s important to note that refunds issued before mid-February 2025 will not include certain tax credits, such as the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). These credits, which can significantly affect refund amounts, are typically issued after mid-February, so they will impact averages for later periods.
2025 Tax Refunds: Increased Average Expected
While the IRS has not yet released full 2025 data on average refunds, we can offer a prediction based on data available as of March 7, 2025. During the first six weeks of the tax season, the average refund amounted to $3,324. This represents a 7.2% increase in total refunds issued, totaling $145 billion, compared to the same period in 2024.
Earlier in the season, the averages were lower. For example, by February 14, 2025, the average refund was $2,169. This increase is mainly due to the inclusion of tax credits like the EITC and ACTC, which affect the larger refunds issued later in the season.
What Can Filers Expect in the Coming Weeks?
For those receiving their refunds between March 22 and March 31, 2025, the $3,324 average refund is expected to be a good estimate. As more returns are processed, it’s possible that the average refund could rise even further.
As we move deeper into the 2025 tax season, taxpayers who filed electronically earlier in the season can expect their refunds soon, with many seeing direct deposits between March 22 and March 31, 2025.
The average refund for 2025 has already increased, and we can expect it to continue to rise as more returns are processed and tax credits like the EITC and ACTC are included.
If you haven’t received your refund yet, rest assured that it’s on the way, and you should keep an eye on the IRS refund schedule for the latest updates.
FAQs
How soon can I expect my tax refund after e-filing?
If you filed your return electronically, you can expect a refund within 21 days, although some delays may occur due to filing errors or specific credits.
When are tax refunds for filings between February 24 and March 2 expected?
Refunds for these filers will be issued between March 22 and March 31, with direct deposits arriving on March 22, and mailed checks arriving by March 29.
Why was my refund lower in the beginning of the season?
Early refunds may not include certain tax credits such as the EITC and ACTC, which are issued later in the tax season and can significantly increase the refund amounts.