The latest data released by the IRS last week shows that the agency has issued $145 billion in tax refunds as of March 7, an increase of 7.2% compared to this time last year.
In total, the agency has sent out more than 43.6 million refunds to taxpayers, up 1.5% compared to March 8, 2024. The average refund amount sits at $3,324—5.7% higher than last year.
The IRS has received 61.4 million tax returns as of March 7, down 2.1% from the 62.7 million the agency received around this time last year. Of those 61.4 million tax returns received, the IRS has processed nearly 60.8 million of them. Electronically filed returns have totaled 59.8 million as of March 7.
Here are the latest tax filing season statistics from the IRS:
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
