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The Average tax refund This year is 32.4% lower than it was at Around the same point in the filing season in 2024, according to early filing data from the Irs.
Tax season Opened Jan. 27and the Average Refund Amount was $ 2,169 as of Feb. 14, down from $ 3,207 about one year prior, the IRS reported Friday. That Figure Reflects Current-Year Refunds Only.
However, the Feb. 14 filing data does not include refunds receiving the Earned Income Tax Credit or Additional Child Tax Credit. The Previous Year’s Filing Data Included Tax Returns Claiming these credits. The value of these tax breaks can be substanti, even resulting in five-Figure refundsIn some cases.
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Typically, you can expect a refund when you overpay taxes throughout the year via Paycheck withholdings or Quarterly Estimated PaymentsBy Comparison, there’s generally a tax bill when you haven’t paid enough.
Filing season numbers will ‘even out’
Although the average refund is currently smaller, “Historically, filing season numbers even as more tax returns come in,” According to the agency.
As of Feb. 14, The IRS Received Roughly 33 Million Individual Tax Returns of the more than 140 million it expects before the April 15 deadline.
As of dec. 27, 2024, The Average tax refund For the 2024 season was $ 3,138, compared with $ 3,167 in late December 2023.
‘Don’t call the ors’ for refund updates
The latest filing statistics come amid mass layoffs at the agency as elon musk’s so-called Department of Government EfficiencyOr Doge, Continues to call the federal workforce,
It’s Unclear Exactly How the Staffing Reduction Could Future Taxpayer Service. But experts recommend double-checking returns for account to avoid extra touch points with the agency.
“Don’t call the Irs Looking for your refund,” said Tom O’Saben, an enrolled agent and director of tax content and government relations at the National Association of Tax Professionals.
You can check the status of your refund via the agency’s “Where’s My Refund?“Tool or the IRS2Go App, which is “available 24 hours a day,” O’Saben said.
Typically, the irS Issues refunds Within 21 days of its receipt of a tax return. But some returns require “Additional Review,” Which can extend the timeline, according to the agency.
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