With the 2024 tax season officially wrapping up, many taxpayers can soon expect to receive their refunds either via direct deposit or by mail. However, it’s important to remember that not everyone will receive a refund, as these are only issued to taxpayers who have overpaid their tax liability. While most taxpayers who are owed a refund have already been paid, a select few may still be receiving theirs in the upcoming week.
Who Receives a Tax Refund?
Tax refunds are issued to taxpayers who have paid more than their tax liability to the IRS throughout the year. This overpayment often occurs when employers withhold more tax from employees than necessary, based on estimates that don’t account for all deductions and credits that individuals may be eligible for. To receive a refund, you need to file your income tax returns so the IRS can determine if you’re owed one.
The fastest way to receive a refund is by opting for direct deposit when filing your taxes, particularly if you used the e-filing system. The IRS saw a 10% increase in the number of taxpayers choosing e-filing over traditional mail last year, reflecting the growing trend toward using online services for tax-related tasks.
Who Will Receive a $3,000 Payment Next Week?
As of May 9, 2025, IRS statistics show that the average tax refund for taxpayers this year has been around $2,939. While most taxpayers have already received their refunds by now, those who opted for a mail-in refund or are eligible for additional tax credits may still be waiting. Refunds for those eligible for tax credits tend to take longer, as the IRS must verify the credit information before processing the refund.
The method you used to file your return and how you chose to receive your refund can impact the processing time:
- E-file and direct deposit: 1 to 3 weeks
- E-file and check: 1 month
- Paper filing and direct deposit: 3 weeks
- Paper filing and check: 2 months
For taxpayers who filed by mail around the tax deadline in mid-April and chose to receive their refund by check, the two-month processing window should be nearing its end, meaning they could be receiving their refunds in the coming week. If you’re unsure whether you’ve received your refund, you can use the IRS’s Where’s My Refund? tool to track your status.
Who Will Not Be Receiving a Refund?
If your expected refund has passed, and you’re certain you’re owed one, there are several reasons why the IRS might withhold it. Common reasons include:
- Outstanding federal student loans: If you have defaulted on federal student loans, the IRS may withhold your refund to apply it toward your loan balance.
- Unpaid child support: If you owe back child support, the IRS may withhold your refund to cover these arrears.
- Unpaid state income taxes: If you haven’t paid state taxes, your state tax agency could intercept your federal refund to settle your debt.
In cases like these, it’s essential to contact the IRS to resolve the issue. If your refund is being withheld due to debts, you can work with the U.S. Department of the Treasury’s Bureau of the Fiscal Service (BFS) to arrange a payment plan and avoid further penalties or potential legal action.
Take Action if You’re in Debt
The IRS encourages taxpayers to reach out as soon as possible if they discover that they owe money to the IRS. By doing so, you can reduce tax-related penalties for nonpayment and avoid more severe consequences, such as arrest in extreme cases.
If you’re still waiting on a refund or unsure about your refund status, take the time to track it through the IRS tools or reach out to them for clarification. Understanding your refund situation can help you avoid surprises and get the financial support you’re owed.