IRS Refund Update: Americans Over & Under 65 Get $3,170 on Average

The 15th of April, 2025 will be the final day to submit a claim for a tax refund with the Internal Revenue Service.

Keep in mind that your obligation to pay any tax liability must be satisfied prior to the day when it is due. If you do not make your payment on time, you can be subject to a fee or a penalty payment.

You will be required to make interest payments, which will have a detrimental effect on your financial situation. In order to prevent this from occurring, you need either pay all of your taxes or agree to a payment plan, which may also include interest.

One piece of positive news is that in the year 2025, the average refund amounts as well as the direct deposit refund amounts are both larger.

This may be possible for a number of reasons, one of which is that the Internal Revenue Service has revised the amounts of certain tax credits. Therefore, it is possible that this caused the amounts to increase.

In addition to this, the Agency has also delivered a greater amount of money than it did in 2024. $195.189 billion has been reimbursed, which is an increase over the previous amount of $185.641 billion.

The average sums of deposits and refunds from the IRS

Comparing the amount that was received on March 29, 2024 to the amount that was received on March 28, 2025, the average amount of the refund has increased by 3.9%.

There is an increase from the lower amount of $3,050 that a taxpayer can receive in 2024 to the current average of $3,170. During the year 2025, the typical amount of a direct deposit is $3,236.

It is true that the average payouts are getting closer to the amounts that will be in effect in 2024, but they are still significantly greater than that.

This year, if you are receiving an average direct deposit, the amount that you will receive is around $66 higher than the average return payment.

Checking your eligibility for tax credits is the best way to ensure that you get the most out of your tax return for 2024.

Among the many tax credits that are available from the Internal Revenue Service (IRS), some examples include the Earned Income Tax Credit (EITC), the Child Tax Credit, and even the Energy Efficient Home Improvement Credit.

Read Also: SSA Makes It Official: Retroactive Payments Worth $6,170 Coming in April

The best way to get rid of all of this tax paperwork is to hire a tax professional or look for assistance if you are eligible for VITA or TCE.

Payment schedule for the IRS

Checklist to determine whether or not you are eligible to get your tax refund payment within 21 days of filing your return:

• You have submitted your 2024 tax return
• you have signed it
• you have dated it
• you have not made any mistakes or errors
• it is both complete and accurate, you have requested direct deposit
• you have chosen to file your return electronically with the IRS.

Pay cheques from the Internal Revenue Service: