The Internal Revenue Service (IRS) has begun rolling out direct deposit refunds in May 2025, with an average refund amount of $3,023. This is great news for taxpayers eagerly waiting for their tax returns. But when exactly can you expect your refund? Let’s break it all down.
IRS Direct Deposits of $3,023 Begin in Early May
Why Is the Average Refund $3,023?
According to recent reports, the IRS is issuing average tax refunds of $3,023, which is 3.3% higher than the $2,850 average in 2024. This increase may reflect:
Adjustments in income tax brackets
Higher eligibility for tax credits
A modest rise in COLA (Cost of Living Adjustment), which also affects tax thresholds
Remember, the actual refund amount you receive depends on your personal financial situation, income, deductions, and credits.
What Affects Your Refund Amount?
Your refund may be higher or lower than the average based on these key factors:
1. Filing Status
Single, married filing jointly, head of household — all have different tax rates and standard deductions.
2. Claimed Tax Credits
Some common tax credits that could increase your refund include:
Child Tax Credit
Earned Income Tax Credit (EITC)
Education Credits (AOTC, LLC)
Saver’s Credit (for retirement contributions)
Premium Tax Credit (for ACA health plans)
Adoption and Energy Efficiency Credits
3. Withholdings
If too much was withheld from your paycheck during the year, you may get a larger refund.
IRS Refund Payment Schedule – May 2025
The IRS hasn’t officially published a fixed refund calendar, but based on past trends and user reports, here’s an estimated refund timeline if you filed electronically and opted for direct deposit:
> Note: These dates are estimates. Refunds may be delayed if the IRS flags your return for identity verification or needs further documentation.
How to Check Your Refund Status?
You can track your refund using the IRS “Where’s My Refund?” tool:
Visit: irs.gov/refunds
Input: Social Security number, filing status, and refund amount
Status updates: Available 24 hours after e-filing
Tips to Get Your Refund Faster
To avoid delays and get your money as quickly as possible, follow these steps:
1. File Early and Electronically
Avoid paper filing delays by using tax software or a certified preparer.
2. Choose Direct Deposit
It’s faster than receiving a mailed check.
3. Double-Check Your Return
Mistakes in SSN, bank info, or credit claims can delay your refund.
4. Respond Quickly to IRS Notices
If they need more info or verification, don’t wait.
Frequently Asked Questions (FAQs)
Q1. Why is my refund delayed?
Delays may happen due to additional IRS reviews, identity checks, or errors in your return.
Q2. Can I still file taxes if I missed the April 15 deadline?
Yes, but you may face penalties if you owe. Consider filing with an extension or contact a tax professional.
Q3. Is the $3,023 guaranteed for everyone?
No, it’s just the average. Your actual refund depends on your specific tax details.
Q4. What if I opted for a paper check?
Expect a delay of 1–2 additional weeks compared to direct deposit.
Final Thoughts
The IRS has kicked off May 2025 with an average refund of $3,023, bringing a financial boost to millions of Americans. If you filed recently, use the estimated timeline above to anticipate your refund date. For the fastest service, file electronically, use direct deposit, and monitor your status on the IRS site.