IRS Data Shows Nearly 11% Increase in Average Tax Refunds in 2025
In Brief
IRS data indicates average tax refunds are nearly 11% higher than last year.
Key Facts
- IRS data shows the average tax refund in 2025 is nearly 11% higher than the same period in 2024
- The increase follows new tax provisions enacted in 2024
- The tax legislation was signed into law in summer 2024
- Forecasters predicted larger tax refunds this year due to the new tax provisions
- The data reflects refunds processed so far in the 2025 tax season
What Happened
According to IRS data, the average tax refund processed so far in 2025 is nearly 11% higher compared to the same period in 2024. This change follows the enactment of new tax provisions signed into law in summer 2024. Forecasters had predicted larger refunds this year based on these legislative changes.
Why It Matters
Changes in average tax refunds can influence taxpayers' financial situations and may have broader economic implications. Tracking the effects of recent tax legislation provides information on how policy changes impact refund amounts.
Sources
- CBS News — Average tax refund is nearly 11% higher so far this year, IRS data shows(1d ago)
- CBS News — Average tax refund nearly 11% higher than 2025(just now)