The Daily Money: All about tax refunds
Good morning! It’s Daniel de Visé with your Daily Money, Sunday tax edition. Between now and April 15, we'll be briefing some of our most popular stories about Tax Season 2025.
Today, we'll pose that perennial question, Where's my refund?
But first, the important political context: President Donald Trump and billionaire aide Elon Musk have targeted the Internal Revenue Service for massive cuts, along with much of the federal government. Observers have warned that the cuts could delay refunds, among other unintended consequences.
To wit: Recently, the IRS ordered most of its approximately 20,000 customer service employees back to the office, ending a long era of hybrid and remote work. There was just one problem: The agency didn’t have enough desks to seat them all.
Are tax refunds up or down?
Despite the upheaval, early tax filers are seeing a steady stream of refunds hitting their bank accounts and mailboxes, Susan Tompor reports.
The average federal income tax refund was $3,453 during the four weeks through Feb. 21. That's up 7.5% from last year's tax season average of $3,213 through Feb. 23, 2024.
Here's more good news on refunds.
When will I get my refund?
If you've filed your taxes and expect a refund, when you'll get it depends on how you filed and how you choose to receive your refund. Here are the details.
Don't be in too much of a hurry
Many Americans think rushing through their taxes will get them a refund sooner, Medora Lee reports. In most cases, that may be true, but what really works best is doing your taxes right, experts say.
If something doesn't add up or match − whether intentionally or by accident − you run the risk of getting audited.
📰 More stories you shouldn't miss 📰
- Is it bad to get a tax refund?
- Beware of tax scams
- Can the IRS tax your Social Security?
- How to get child tax credit refunds
- Why taxpayers may be delaying their returns
About The Daily Money
Between now and April 15, The Daily Money will deliver weekly summaries of news, trends and all you need to know about Tax Season 2025.
Daniel de Visé covers personal finance for USA Today.