Tax refunds in 2025 so far about one-third lower than last year. Here's why.
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With tax season well underway, early data on the average tax refund shows that Americans are receiving about one-third less than they did a year earlier.
The average refund check in 2025 stood at $2,169 as of Feb. 14, about 32% below the average $3,207 refund issued at the same time last year, the IRS said in its most recent tax update. The agency began accepting tax returns on Jan. 27 and will continue to do so until April 15 except for taxpayers who request an extension.
Those numbers don't necessarily mean that individual taxpayers will get a smaller refund, experts note. Refunds are typically smaller at the start of the tax season because low- and middle-income workers with simpler tax returns are often the first to file, while higher-income Americans or people with more complicated taxes tend to wait until closer to the April 15 deadline to file their returns.
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