Every dollar counts, and these days, getting good news from the IRS sounds almost like a miracle. And yet, that’s exactly what’s happening this year. Millions of Americans are seeing their tax refunds increase significantly, and who doesn’t like getting a little more money? April 15 is the last day to file taxes, and with it, the dreaded tax season will come to an end. The Internal Revenue Service (IRS) has revealed that tax refunds this year are slightly higher than in previous years. Why is this happening, and who can benefit? Since we don’t want you to miss anything, we’ll tell you everything below!
Who will receive money?
Mainly those people who didn’t request the Recovery Rebate Credit on their 2021 tax return. For these people, there’s still a chance to recover their money because the agency has activated automatic payments in these cases, so taxpayers won’t have to submit any additional paperwork and can finally recover their money.
How much will these people receive?
With this credit, people can receive up to $1,400 per person, and it’s mainly aimed at those who didn’t file their 2021 return. Apparently, there are still a million people who haven’t claimed their money (because they haven’t requested it). These people have until April 15 to claim it, even those with low or no income can request it if they filed a tax return that year.
What if you also forgot to claim the EIP?
There were also many people who didn’t claim the EIP (Economic Impact Payments) on their 2020 or 2021 returns. This was a type of stimulus check that the government distributed during the COVID pandemic, and it was part of an economic aid package to stimulate the economy during the health crisis that struck the country.
For people who didn’t claim it, the IRS sent three specific notices:
- Form 1444 (First EIP for the year 2020)
- 1444-B (2021 EIP)
- 1444-C (2022 EIP)
If you’re not sure whether you received your full payment, you can check it in your IRS online account under the Economic Impact Payment Information section.
Official refund figures so far
As of March 7, 2025, the IRS has already issued 43.6 million refunds, representing a total of $145 billion. The average per taxpayer has increased by 5.7% compared to last year, reaching $3,324 per person, compared to $3,145 in 2024. A 5.7% increase isn’t much, but for low-income families, it’s a small boost they truly appreciate, especially with inflation.
What happens if you don’t file on time?
Well, the IRS allows you to request an extension until October 15, 2025, but it won’t accept returns filed after that without applying interest or penalties. That’s why experts (and we, too) recommend filing as soon as possible, especially if you’re expecting a refund, so it can arrive as quickly as possible.
What’s going on with the IRS?
Concerns are arising, both from experts and the public, since, as you may know, the creation of the Department of Government Efficiency (DOGE) has cancelled several IRS office lease agreements, and now it has limited the payments of each administrative section… All of this could mean delays in refunds and generate more stress among taxpayers… So, since we don’t want our refund to be delayed even a little, it’s best to file taxes electronically so they can be processed automatically (otherwise, they have to be processed manually, and of course, with dozens of offices closed and limited staff, it’s going to take much longer).
Don’t fear the IRS anymore, t does bring us good news once in a while!