The IRS has issued more than 29.6 million individual income tax refunds through Feb. 21, up 2.3% from a year ago.

The IRS said the average refund amount has increased by 7.5% this year, going from $3,213 in 2024 to $3,453 so far in 2025. The average direct deposit refund was also up by 7.1% from last year – at an average of $3,505. The IRS began accepting tax returns on January 27, 2025.

A new report suggests federal income tax refunds in 2025 could be among the highest in recent years. The report released by Oxford Economics on Monday said that it would be a “favorable” season for taxpayers,

As the April 15 filing deadline looms, the Internal Revenue Service reminds taxpayers that after three years, any unclaimed 2021 tax year refunds go to the U.S. Treasury.

If you've already filed your tax return, it's natural to wonder when you'll receive your refund. One of the most common questions is the exact time the IRS makes deposits.