As the official opening of the 2025 tax season nears, taxpayers are gearing up to file their 2024 tax returns. The Internal Revenue Service (IRS) will officially begin accepting returns on Monday, but Americans can already prepare and file to ensure their returns are ready for early processing.
How Tax Refunds Work
For many Americans, tax refunds represent a significant financial event. In 2024, the average tax refund reached $3,004, a modest 0.9% increase from the previous year, according to IRS data. Refunds are typically issued within 21 calendar days, provided that the return is filed electronically and no issues arise.
To check refund status, the IRS provides the Where’s My Refund tool, which becomes active 24 hours after e-filing and is updated nightly. For paper returns, refund information may take up to four weeks to appear.
How to Maximize Speed and Accuracy
The IRS emphasizes that the fastest, safest, and easiest way to receive a refund is through e-filing combined with direct deposit. Paper refund checks, by contrast, are significantly more prone to issues such as loss, theft, or misdirection. According to the Treasury’s Bureau of the Fiscal Service, these problems occur 16 times more often than with direct deposit refunds.
Key Deadlines for 2025
This year, the tax filing deadline is Tuesday, April 15, 2025. Taxpayers needing more time can request a six-month extension, but late filings or unpaid balances may incur penalties.
Cost of Filing Taxes
While tax preparation often comes with a fee, there are free filing options available:
- TurboTax: Offers free filing for taxpayers who file on their own by February 18, as long as they didn’t use TurboTax to file last year. Some restrictions apply, including exclusions for TurboTax Live users. Fees can also be deducted from refunds.
- H&R Block: Provides a variety of packages, including some free options for simple returns.
- FreeTaxUSA and Credit Karma Tax: Known for free or low-cost services for basic tax needs.
- IRS Free File: Offers no-cost filing for eligible taxpayers through the IRS’s official website.
Taxpayers are encouraged to file early to avoid delays and maximize refund speed. Electronic filing remains the most reliable option for both accuracy and efficiency. For those seeking cost savings, exploring free-filing platforms or promotions can help reduce expenses during the tax season.
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