Tax season is in full swing, and many Americans have already filed their tax returns and received their refunds. As of mid-March 2025, the IRS has issued over $162 billion in refunds, which is an increase compared to last year. If you’re still waiting for your refund or preparing to file, here’s what you need to know about this tax season’s trends.
How Many Tax Returns Has the IRS Processed in 2025?
The IRS recently shared data on the number of tax returns processed so far. As of March 14, 2025:
- 69.6 million federal tax returns have been processed, a slight 1.4% decrease from last year.
- The total number of returns received is 70.3 million, down 1.7% from 2024.
- Most people filed electronically, with 68.4 million e-filed returns processed. About half were filed by tax professionals, while the rest were self-prepared.
How Many Refunds Has the IRS Issued?
Even though fewer tax returns have been processed, more refunds have been issued compared to last year:
- 49.8 million refunds have been sent out, a 1.4% increase from March 2024.
- The total value of refunds issued so far is $162.9 billion, a 6.7% increase from last year’s $152.7 billion.
- The average refund amount is $3,271, up 5.2% from 2024’s average of $3,109.
What Does This Mean for Taxpayers?
Even though fewer people have filed early, those who have received their refunds are getting slightly more money than last year. The IRS mentioned that early fluctuations in filing numbers are common, and activity typically picks up as the April 15 deadline approaches.
If you haven’t filed your taxes yet, make sure to do so before the deadline to avoid penalties. Consider using e-filing options for a quicker refund. If you’re still waiting for your refund, you can check the status on the IRS “Where’s My Refund” tool.
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