Last Year’s Average Tax Refund Was Over $3,000: Here's Why You Should File Your Return Now

Rhea-AI Summary

Intuit's TurboTax urges taxpayers to file their returns ahead of the April 15, 2025 deadline, highlighting significant refund potential. According to IRS filing statistics for the week ending March 7, 2025, tax refunds are up 5.7% compared to last year, with an average refund amount of $3,324.

Despite concerns about IRS layoffs and pending tax proposals, the company emphasizes these factors won't affect 2024 tax filings. TurboTax offers both self-filing options and access to thousands of TurboTax Live experts who can complete returns virtually or in-person. Returning TurboTax Full Service customers have the option to work with their previous year's tax expert.

Positive

• Average tax refund up 5.7% YoY to $3,324, potentially driving higher service adoption
• Multiple service offerings available (self-filing and expert assistance) expanding market reach
• Customer retention strategy through same-expert matching for Full Service users

Negative

• IRS layoffs could impact processing times and customer experience
• Increasing competition in tax preparation services market

News Market Reaction

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-0.51% News Effect

On the day this news was published, INTU declined 0.51%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MOUNTAIN VIEW, Calif., March 18, 2025 (GLOBE NEWSWIRE) -- With the tax return deadline just weeks away on April 15, experts say it's essential to file as soon as possible. People may be delaying their filing due to confusion around IRS layoffs and uncertainty around if and when new tax proposals will pass. There is no reason to wait to file since these proposals will not impact the 2024 taxes you are filing now. The IRS will maintain essential operations throughout tax season − so why wait to get your refund?

A Media Snippet accompanying this announcement is available by clicking on this link.

Last tax season, the average tax refund was over $3,000. In fact, IRS latest filing statistics for week ending March 7, 2025 reports that refunds are up 5.7% over last year with an average refund amount of $3,324. With rising costs and current economic concerns, there's no reason to delay. File your taxes now to get closer to your refund.

Whether you would like to file your taxes yourself or have a tax expert do your taxes for you, Intuit TurboTax provides a fast and stress-free tax filing solution for you. Thousands of TurboTax Live experts are available now to do your taxes from start to finish virtually or in person and take them off your plate.

Plus, if you used TurboTax Full Service last season, you can work with the same expert again this year.

The tax deadline is rapidly approaching, so no matter how you file, don’t wait and get your taxes done now!

Learn more at: turbotax.com

MEDIA CONTACT:
Lisa Greene-Lewis, lisa_greene-lewis@intuit.com

FAQ

What is the average tax refund amount for 2025 according to IRS statistics?

According to IRS statistics for week ending March 7, 2025, the average tax refund amount is $3,324, representing a 5.7% increase from the previous year.

Will current tax proposal discussions affect 2024 tax returns filed through TurboTax?

No, pending tax proposals will not impact 2024 tax returns being filed now.

What filing options does TurboTax (INTU) offer for the 2024 tax season?

TurboTax offers self-filing options and TurboTax Live experts who can complete returns virtually or in-person, with returning Full Service customers able to work with their previous expert.

When is the tax filing deadline for 2024 returns?

The tax filing deadline is April 15, 2025.