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Will your 2025 tax refund be bigger than last year’s? Find out what the experts say

American filers have until April 15 to submit their paperwork to the IRS. Here’s how much taxpayers may expect to get back in their tax refund this year.

Am I eligible for IRS Free File?

The Internal Revenue Service began accepting and processing US taxpayers’ paperwork for the 2024 fiscal year on 27 January. Filers will have until April 15, 2025, to submit their tax returns and pay any outstanding taxes due. However, most will be hoping for a tax refund which many plan on using to pay bills, putting it into savings or some other practical purpose.

With that in mind then, how much can they expect get back from Uncle Sam this year? GoBankingRates spoke to CPA and TurboTax expert Lisa Greene-Lewis to get her forecast for the amounts that Americans could receive in their 2025 tax refunds.

2025 tax refunds will most likely be similar to last year

Given that everyone’s financial situation is different, predicting the exact amount that each will receive through their tax refund is impossible. However, by looking at last year with the knowledge that there have been no significant changes to tax law since then, taxpayers’ refunds should be relatively similar to the one the got from the 2023 tax filings. That is if there has not been any major changes in their economic or family situation.

According to IRS statistics at the end of last year, over 163 million taxpayers got a refund in 2024. That was slightly up from the year before and outpaced the growth in the number of overall tax returns processed. The average refund amount decreased by a little less than $30 from the 2023 amount of $3,167.

How to get a bigger tax refund in 2025

The US tax code offers a number of tax credits and deductions that filers can take advantage of, so you want to make sure that you claim all of those for which you are eligible. “Make sure you get the refund you deserve by gathering all your documents in one place so you don’t leave out expenses that can be worth substantial deductions or credits,” Greene-Lewis told GOBankingRates.

One that she specified in particular is the Earned Income Tax Credit which according to the IRS around 20% of eligible taxpayers forget to claim. An eligible family with three kids could get as much as $7,830 from this refundable credit, which means that even if you paid less in taxes than the amount of the credit you will still receive the excess amount added to your tax refund.

Also be sure to take advantage of the Child Tax Credit which is worth up to $2,000 per child under age 17 on December 31, 2024, $1,700 of which is a refundable credit for the 2024 fiscal year. Like in 2023, the eligibility requirements are the same. Greene-Lewis advises to make sure that you have the Social Security numbers correct for any children or dependents that you claim on your tax return in order to receive the credit.

Note, taxpayers who were eligible and still haven’t claimed the expanded 2021 Child Tax Credit, this is the last year that you can claim up to $3,000 or $3,600, depending on the child’s age on December 31, 2021, from the fully refundable credit. You must submit a 2021 tax return and claim this credit by April 15, 2025.

One last tip, be sure to file as soon as possible so that you can get your return faster, the IRS processes tax returns on a first come, first served basis. The IRS provides a list of free online tools to file your 2024 tax returns as well as other useful information for the 2025 tax season.

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