CHARTS & GRAPHS

Tax Refunds Plummet, but No Worries

data table
* Total tax returns processed includes returns received in the prior or current year and processed in 2025. # Total refunds issued represents refunds for returns received and processed in 2025, which reflects current year returns only. However, the number of direct deposit refunds represents refunds for both current and prior year returns processed in 2025, which makes this figure larger than the “total number of refunds” listed for the current year.

 

Tax pros handling 41% of e-filings.

By Beth Bellor

Refunds, the one bright spot of the 2025 tax season so far, have dropped, and not just a little – 31 percent and more.

MORE: Tax Refunds Up 18% Early On | First Tax Filing Reports Are In
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Of course the IRS has an explanation. It’s a plausible one and, as usual, tied to timing.