The 2025 tax season is now open and the IRS began accepting and processing individual income tax returns on Monday. The earliest that some of these early filers might get their tax refunds is in February. Those who claim the earned income tax credit will face a few days of delay.
When Will IRS Refunds Start?
The IRS began accepting e-filed returns on Monday. However, it can only issue refunds after processing the return. Returns e-filed prior to Monday are considered “pending.” For those filing by direct deposit, most refunds will be issued within 21 days. For a return that claims the earned income tax credit or the additional child tax credit, the IRS said it would estimate that refunds would be issued by March 3.
Important Note: Refunds for returns claiming these credits will not be issued before mid-February.
More than 140 million individual federal income tax returns are expected for tax year 2024, ahead of the April 15 federal deadline.
How Much Was The Refund in 2024?
The average federal income tax refund in 2024 was $3,138. As of February 2 last year, the IRS had received more than 15.3 million returns and issued 2.6 million refunds, which totaled nearly $3.65 billion.
