The Internal Revenue Service (IRS) officially began accepting tax returns for the 2024 tax year on January 27, 2025. As usual, the deadline to file and pay any taxes owed is April 15, 2025. However, not all taxpayers will receive their refunds on the same date.
When Will You Receive Your 2024 Tax Refund?
Most taxpayers who file electronically and request direct deposit can expect their refund within 21 days of filing, according to the IRS. This means that the earliest tax refunds for those who filed on January 27, 2025, could be deposited as soon as February 17 or February 18, 2025.
Delays for Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) Filers
If you claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC), your refund will take longer to process. Federal law prevents the IRS from issuing these refunds before a specific date to help prevent fraud.
Taxpayers who claimed the EITC or ACTC should expect their refund by March 3, 2025. If you claimed these credits, you will not be among the first to receive a tax refund.
Tracking Your Refund: ‘Where’s My Refund?’ Tool
The IRS provides an online tool called ‘Where’s My Refund?’ that allows taxpayers to track their refund status. Here’s how it works:
- If you filed electronically, you can check your refund status 24 hours after submission.
- If you filed a prior-year return electronically, you’ll need to wait up to 4 days before checking.
- If you filed a paper tax return, you will have to wait up to 4 weeks before tracking your refund.
The IRS updates the refund status once a day, so checking multiple times will not yield new information. To use the ‘Where’s My Refund?’ tool, you will need:
- Your Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
- Your filing status (Single, Married Filing Jointly, etc.)
- The exact refund amount from your return
FAQs About the 2025 Tax Refund Schedule
1. When is the last day to file my 2024 taxes?
The tax deadline is April 15, 2025. If you need more time, you can file for an extension, but any taxes owed must still be paid by this date to avoid penalties.
2. When will I receive my tax refund if I file early?
If you file on January 27, 2025, and choose direct deposit, you may receive your refund as early as February 17 or February 18, 2025, assuming there are no delays.
3. Why is my refund taking longer than expected?
Delays may occur if:
- You claimed the EITC or ACTC (refunds will be delayed until at least March 3, 2025).
- You filed a paper return, which takes longer to process.
- Your return requires manual review due to errors or missing information.
4. How can I check the status of my tax refund?
You can check your refund status using the ‘Where’s My Refund?’ tool on the IRS website. You will need your SSN/ITIN, filing status, and exact refund amount.
5. What if my refund is lower than expected?
Your refund may be smaller if:
- You had unpaid debts (e.g., student loans, child support, or back taxes) that were deducted.
- There were math errors or adjustments made by the IRS.
6. Can I get my refund faster?
Yes! File electronically and choose direct deposit for the quickest refund processing.
By staying informed and filing early, you can ensure you receive your refund as soon as possible. Always check the IRS website for the most up-to-date information on tax filing and refund processing timelines.