Several taxpayers who file for taxes, receive refunds during this time. If you’re one of those, it’s the right moment to check your bank account. The income tax department of the US has already sent back over $162.992 billion tax refund. Another thing to check is if you have any penalties for late tax filing to be sure you’re not making an error.
You’ll get the refunds via direct deposit, so check the one that’s connected to your taxes. You may also check it using a digital mobile banking system to see if you’ve received a fair amount.
Many people are usually stressed when filing for taxes. The taxes have not just impacted the common man but also the sports world. Golfer Rory Mcllroy will have to pay more than half his winnings into taxes.
These tax refunds may be a little relief for the citizens amidst Trump’s trade war and a possible rise in the cost of living. Even grocery items are supposed to go higher in price, impacting low-income households the most.
Eligible taxpayers in 25 states can file their tax returns online for free directly with the IRS. Spread the word about Direct File before the April 15 deadline: https://t.co/DIQO4ExH9R pic.twitter.com/M85ISXb13c
— IRSnews (@IRSnews) April 11, 2025
The deadline to file the tax remains April 15, but if you need more time, you may request an extension as per the IRS website. In some cases, people may get an automatic extension. If you’re unaware of what to do, go to the website for the official information and also learn about various relief programs to find the best resolution.
If you have not filed the tax returns yet, make sure to do so by electronically filing method and pick the direct deposit system. The IRS has declared the refunds will come within 21 days if you file correctly.
Other information from the IRS includes the schedule of the tax refund depending on when you have filed for the taxes. Add 21 days to when you filed for the taxes and you’ll find the date by which the refund should come.
National USA Tax Day, April 15.
the United States, Tax Day is the day on which individual income tax returns are due to be submitted to the federal government.[3] Since 1955, Tax Day has typically fallen on or just after April 15. Tax Day was first introduced in 1913, when the… pic.twitter.com/0pCBV4F3s1
— Joseph Angelo (@Beachdudeca) April 15, 2025
The number of people filing taxes this year is considerably low-1.7% lower than the previous year. Some people may not have filed yet being unaware or because of delayed refunds.
On the other hand, IRS returns have increased by 6.7% this year in comparison to last year. This makes the average refund to be 4.6% higher adding up to almost $2600. In case you’re wondering what to do if you’re facing a penalty for not filing the taxes, it won’t be too huge. So, you’ll be paying a 0.5% failure-to-pay penalty for the unpaid balance per month. The cumulative sum will have to reach a total of 25% amount that you owe.
