The IRS is continuing its processing of tax refund payments for eligible individuals who filed their 2024 returns. Those expecting a refund should check their eligibility for direct deposits, especially as the IRS finalizes payments in early July. With an average refund of $2,939, taxpayers are seeing slightly higher returns compared to 2024, reflecting a 2.4% increase in the total refund amount.
Importantly, some taxpayers may have their refunds deposited earlier than expected. If their returns are accurate and filed electronically, they may see their payments processed within as little as 10 days. For others, the wait might be longer as the IRS works to finalize refunds, especially for those whose returns required additional review.
Refund Amounts Are On the Rise
The IRS reports that the average refund in 2024 is valued at approximately $2,939, marking a 2.4% increase from the previous year. For those receiving their refunds through direct deposit, the average amount has risen to $3,034, a 2.5% increase from 2024 figures. These increases reflect a combination of inflation and adjustments in tax laws that benefit eligible taxpayers.
While many taxpayers have already received their refunds, others may still be awaiting their payments, with the IRS issuing payments for the 2024 tax year as late as mid-July. The higher-than-expected refund amounts also signal a trend of increased financial relief for individuals who may have experienced tax-related delays in recent months.
Direct Deposits Set to Arrive From July 1-10
Taxpayers who filed their returns accurately and electronically can expect a quicker turnaround for their refunds, with some receiving payments as soon as 10 days after filing. For those who filed between June 21 and June 30, 2024, direct deposits are expected between July 1 and July 10, 2025. For example, if a taxpayer filed their return on June 21, they may see their refund by July 1, 2025. This timeline provides clarity for individuals awaiting their refund payments, helping them plan their finances accordingly.
Given the large volume of tax returns filed annually, the IRS encourages taxpayers to file early and ensure all information is correct to expedite the process. Mistakes or missing information on returns can lead to delays as the IRS reviews and processes the refund requests.
IRS direct deposits of over $3,000 (avg) coming from July 1-10: Check refund payment eligibility https://t.co/BNjuAUgzEe
— XPNAiiMODEDX26 🇵🇭 (@XPNAiiMODEDX26) July 4, 2025
Processing Delays May Extend Refund Payments
While the IRS aims to process tax returns and issue refunds within a standard timeframe, some taxpayers may face delays. Returns that require additional review or verification may not be processed as quickly as others. However, even in these cases, the IRS typically aims to issue refunds within 21 days after the return is filed. Taxpayers filing between June 10 and June 20, for instance, might see their refunds deposited by July 1, 2025, or shortly thereafter.
In cases where the IRS has already sent the refund, it may take a few additional days for the recipient’s bank to process the payment. Taxpayers are encouraged to check their refund status using the IRS “Where’s My Refund?” tool, available free of charge online. This tool allows taxpayers to track the status of their refund and receive updates on when to expect payment.
How to Ensure Your Refund Is Processed Quickly
To ensure a smooth and timely refund process, the IRS advises taxpayers to file their returns electronically. This method is the most efficient and increases the likelihood of receiving a direct deposit payment within 10 days. It is also essential for taxpayers to ensure that all information provided on their returns is correct, as even minor errors can result in significant delays.
By taking these steps, individuals can avoid unnecessary wait times and ensure that their refund is processed as quickly as possible. For those who have already filed, the next step is to monitor the status of the refund through the IRS online tools to track any changes or updates to the payment schedule.
For those with more complex tax situations, such as those requiring additional verification or review, patience may be needed. However, the average processing times should still allow for refunds to be delivered within 21 days in most cases.
