37% US Taxpayers Rely on Refunds To Make Ends Meet: When Can You Expect 2025 Tax Refunds

27th January marked the first day of the latest tax season. Americans can now file their 2024 returns with the Internal Revenue Service (IRS). Like most years, US taxpayers have until Tuesday, 15th April 2025, to file their taxes unless they file for an extension. People can file taxes via mail, online by themselves, or with the help of a tax preparer.

While many will file their taxes later into the year, there are early filers who depend on tax refunds to ease out their monthly budgets. A 21st January Intuit Credit Karma survey of 1,000 US taxpayers conducted by Qualtrics revealed that 37% of the respondents rely on tax refunds to make ends meet.

Of those who depend on tax refunds to get by, 45% say it is due to rising living costs, while others attribute it to inflation, depleted savings, and living paycheck to paycheck. While the Core US CPI cooled in December, it has yet to be reflected in the cost of household essentials. Furthermore, many US taxpayers also plan to use their refund to pay down debt or boost their emergency funds.

When To Expect 2025 Tax Refunds?

It is estimated that, on average, three out of four tax filers can expect to see a refund. However, the timing of refunds generally depends on when and how you file taxes and the IRS's processing time.

The IRS estimates that if you file electronically and choose the direct deposit option, your tax refund will likely be credited to your bank account within 21 days.

For those mailing a paper return, refund processing times could stretch to eight weeks from the date the IRS receives the filing. Overall, these estimates apply only if your filing is accurate and complete.

Note that there are several other ways to receive your tax refunds. The IRS can mail you a paper cheque to the address on your filed return. You can also have your tax returns deposited in traditional, Roth, or SEP Individual retirement accounts.

How To Track 2025 Tax Refund Status?

US Taxpayers can utilise the "Where's My Refund" tool on the IRS website to track their refunds. All you have to do is input your Social Security Number (SSN) or Individual Taxpayer ID Number (ITIN), select the appropriate tax year and filing status, and then enter the exact whole dollar refund amount on your return.

However, the IRS stated that taxpayers must wait at least 24 hours after e-filing taxes to check the refund status on their website. If you file a paper return, you must wait four weeks before your return status shows up in the refund tracker tool. In case you e-file a prior-year return, it will take up to four days for the refund status to reflect on the IRS system.