May 6, 2025 6:00am EDT
2025 tax season: What do returns look like so far this year?
Average tax refund is larger than last year's so far, though IRS reports issuing fewer refunds
By Eric Revell FOXBusiness
New data from the Internal Revenue Service (IRS) shows the size of the average tax refund received by taxpayers is up from a year ago.
IRS data for the 2024 tax filing season through the week that ended on April 25 showed the average tax refund amount is up 3.3% from last year's filing season, rising from $2,852 to $2,945.
The total amount refunded grew at a slower 2% pace, rising from $260 billion to $265 billion over last year.
The total number of tax refunds issued by the IRS is down 1.3% in the current filing season when compared with a year ago, having fallen from 91.3 million to 90.2 million in that period.
Direct deposit was used for the vast majority of refunds issued, with nearly 84.8 million of the 90.2 million refunds paid directly to taxpayers' accounts. That percentage was virtually unchanged from a year ago, rising by just 0.1%.
The total amount refunded rose by 2.8% to $256 billion, while the average direct deposit amount rose at a similar rate of 2.7% to $3,023.
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https://www.foxbusiness.com/economy/2025-tax-season-what-do-returns-look-like-so-far-year
