As tax season winds down, the IRS is issuing average refunds of nearly $3,000 to millions of Americans between May 23 and May 25. If you filed your 2024 taxes early, your refund might be arriving in your bank or mailbox soon — this could mean extra cash for your summer plans or bills.
Here’s what you need to know about the timing, how to check your refund status, and who qualifies for these payments.
Why You Should Watch for Your Refund This Week
Millions of taxpayers across the U.S. are expecting refunds in the coming days, according to the IRS. For many, this money represents a financial boost after months of tax filing stress and pandemic-related delays. The IRS estimates the average refund amount is $2,945 for this batch of payments.
If you filed electronically and chose direct deposit, your refund is likely to arrive faster than by mail. The IRS urges taxpayers to keep an eye on their accounts or mailboxes starting May 23 through May 25 to avoid missing this important payment.
The IRS reminds everyone to ensure their banking information was entered correctly to prevent delays or misdirected funds. If your refund is delayed, you can still track it online.
How to Check Your Refund Status Quickly
You don’t need to wait by your mailbox wondering when your refund will come. The IRS provides an easy way to check your refund status 24/7 through their “Where’s My Refund?” tool.
- Visit the IRS site.
- Enter your Social Security number, filing status, and exact refund amount.
- The system will give you real-time updates about your refund’s progress.
The IRS updates refund statuses once daily, usually overnight, so checking first thing in the morning often gives the best information.
According to the IRS, early filers are more likely to get their refunds during this week’s window, but refunds will continue to be processed through the summer.
Who Qualifies for the Average $2,945 Refund?
Not everyone will receive the $2,945 average refund, but millions of taxpayers qualify for refunds close to this amount. Your refund depends on:
- Income level and tax withholding
- Eligibility for tax credits like the Earned Income Tax Credit (EITC) or Child Tax Credit (CTC)
- Amount of tax paid throughout the year
The IRS’s recent data shows that lower to middle-income earners with dependents often receive larger refunds because of refundable credits.
If you claimed deductions like mortgage interest, education expenses, or retirement contributions, these may also boost your refund amount.
What To Do If Your Refund Is Delayed
Some taxpayers may experience delays due to issues like incorrect information, identity verification, or incomplete returns. If your refund doesn’t arrive by May 25, don’t panic:
- Double-check your refund status online.
- Ensure your filing was accurate and complete
- Contact the IRS if the tool suggests further action or verification
The IRS has increased efforts to combat fraud this year, which has caused some slowdowns but protects taxpayers in the long run.
Final Reminder
If you’re expecting a refund this week, make sure your contact and banking info are up to date to receive it smoothly. Plan ahead for how you’ll use your refund—whether it’s paying off debt, saving for emergencies, or enjoying summer activities.
Stay informed with the latest from the IRS and follow us for more updates about tax deadlines, refunds, and financial news in your area.
This article was written by John Deluca. AI was used lightly for grammar and formatting, but the ideas, words, and edits are all mine.
