Check Your Bank Account by Sunday – One Group Receiving Average IRS Payment of $2,939
As the 2024/2025 tax season has officially wrapped up, many American taxpayers are now turning their attention to IRS refunds.
While millions may be anticipating a financial return, it’s essential to understand that a tax refund is not automatic. Let’s break down how refunds work, when you can expect yours, and what might cause a delay.
What Triggers a Federal Tax Refund?
Employer Withholding and Overpayment
Most individuals have federal income taxes deducted from their paychecks throughout the year. These withholdings are automatically sent to the Internal Revenue Service (IRS).
At the end of the fiscal year, when you file your tax return, the IRS evaluates how much tax was withheld against your actual tax liability.
If you’ve overpaid, either due to excessive withholding or qualifying for tax credits, you’re eligible for a tax refund.
Additional Income and Tax Credits
You’re also required to report non-employment income like investment gains or rental earnings, which may not have been taxed during the year. Filing ensures these are accounted for.
Furthermore, tax credits like the Child Tax Credit (CTC) and the Additional Child Tax Credit (ACTC) can reduce your tax bill significantly, and may even result in refundable credits, increasing the amount of your return.
When Will I Receive My IRS Refund?
The IRS encourages taxpayers to track their refund using the “Where’s My Refund?” online tool. If your return has been processed and you’re eligible for a refund, the timing depends on how you filed.
Refund Timeline Based on Filing Method
| Filing Method | Refund Delivery Method | Estimated Timeframe |
|---|---|---|
| E-file with direct deposit | Direct bank deposit | Within 21 days |
| Paper file with mailed check | Mailed physical check | Up to 8 weeks or more |
| Filed near April 15 deadline | Mailed check | Likely to arrive by mid-June |
As of the IRS’s May 9 update, the average refund issued this year is $2,939, which marks an increase compared to the previous year.
What Could Delay or Withhold Your Refund?
Even if you filed early, some taxpayers may experience delays due to outstanding debts or other federal issues.
Common Reasons for Refund Withholding
- Owed taxes to the federal or state government
- Unpaid child support
- Defaulted student loans
- Errors or mismatches in tax information
What You Can Do
If you believe you’re entitled to a refund but haven’t received it, it’s best to contact the IRS directly. They can provide clarity on whether your refund has been withheld and the steps needed to resolve the issue.
Why Filing Taxes Is Always Necessary
Even if taxes are withheld from your paycheck year-round, filing a tax return is crucial for reconciling what you owe versus what you’ve paid.
It also allows you to claim credits and report additional income. Delaying or skipping filing can result in penalties or missed opportunities for refunds and tax benefits.
Filing your taxes can bring a welcome financial boost in the form of a refund—but only if your documents are accurate, complete, and filed on time.
With the average refund topping $2,939, it’s important to monitor your status and understand the factors that may delay your payment. Always consult the IRS for issues and file your return as early as possible to avoid unnecessary hold-ups.
FAQs
What is the average IRS tax refund for 2025?
As of May 9, the average tax refund issued by the IRS is $2,939, reflecting an increase from the previous tax year.
Can I receive a refund if I owe student loans or child support?
Not always. If you’re in default on student loans or owe child support, your refund could be partially or fully withheld to cover the debt.
How do I track my IRS refund status?
Use the “Where’s My Refund?” tool on the IRS website. You’ll need your SSN, filing status, and the exact refund amount to track progress.
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