The IRS began processing tax returns on Jan. 27 and says the number of returns are down compared to this time last year, but average refund amounts are up.

The IRS started accepting 2024 tax returns on Jan. 27, and the agency posted the first statistics from tax season 2025 last Friday, Feb. 7. This year's numbers show that the agency has already processed more than 11 million returns and issued more than 3.

A tax refund is a reimbursement to taxpayers who have overpaid their income taxes, and so the government sends the money back. If taxpayers receive a large refund, they may well b