Tax Refunds Are Rolling Out: Tax season is here, and $300+ tax refunds are already rolling out for millions of Americans. If you’re expecting a refund this year, you’re not alone — according to the IRS, the average refund for the 2024 tax year is approximately $3,221, a 4.6% increase from last year. But whether you’re getting a modest refund or a bigger one, the goal remains the same: maximize it to the fullest.
In this guide, we’ll walk you through simple, proven strategies that can help you get the biggest refund possible in 2025. From claiming tax credits to filing smartly, here’s how to make tax season work for you.
Tax Refunds Are Rolling Out
| Topic | Details |
|---|---|
| Average Refund (2024) | $3,221 (4.6% higher than 2023) |
| Top Refund Boosters | EITC (up to $7,830), CTC (up to $2,000/child), IRA/HSA contributions |
| Standard Deduction (2024) | $14,600 (single), $29,200 (married filing jointly) |
| Deadline to File | April 15, 2025 |
| Official IRS Site | irs.gov |
Getting a tax refund can feel like a financial bonus, but it’s even better when you maximize what you’re owed. By understanding your credits, deductions, and filing options, you can ensure you receive the highest refund possible. Don’t wait until the last minute — start early, file smart, and make your money work for you.
Claim All Eligible Tax Credits
Tax credits are one of the most effective ways to reduce your tax bill or increase your refund. Unlike deductions that reduce taxable income, credits directly lower the tax you owe.
Earned Income Tax Credit (EITC)
The EITC can give you up to $7,830 if you meet income and family-size criteria. It’s especially valuable for low- to moderate-income workers. For example:
- A single parent with two kids earning under $52,918 could qualify.
- Even if you don’t owe taxes, the credit is refundable — meaning you could still get money back.
Apply by April 15, 2025 to claim EITC for the 2024 tax year. Check eligibility.
Child Tax Credit (CTC)
Families with children under 17 can claim the CTC, worth up to $2,000 per child. Income thresholds are:
- Up to $200,000 (single)
- Up to $400,000 (married filing jointly)
Some families may also qualify for the Additional Child Tax Credit, which is refundable.
Other Valuable Credits
Don’t miss out on:
- Child and Dependent Care Credit
- Retirement Saver’s Credit
- Premium Tax Credit (for health insurance through the Marketplace)
For a full list, visit the IRS Credits and Deductions page.
Maximize Your Tax Deductions
Standard Deduction (2024)
The IRS automatically reduces your taxable income based on your filing status:
- Single: $14,600
- Married Filing Jointly: $29,200
- Head of Household: $21,900
Most taxpayers take the standard deduction, but some can benefit from itemizing instead.
Itemized Deductions
If your expenses exceed the standard deduction, itemizing may lead to a larger refund. Common itemized deductions include:
- Mortgage interest
- State/local taxes (up to $10,000)
- Charitable donations
- Medical expenses (if >7.5% of your income)
Use IRS Schedule A to report these. Learn more here.
Contribute to Retirement & Health Accounts
Traditional IRA
Contributions made by April 15, 2025, can reduce your 2024 taxable income. For example:
- Contribute $7,000 to an IRA.
- If you’re in the 22% tax bracket, this could save you $1,540 in taxes.
Even if you don’t itemize, this deduction applies.
Health Savings Account (HSA)
If you have a high-deductible health plan (HDHP), contribute to an HSA:
- Individual limit: $4,150
- Family limit: $8,300
Triple tax benefits: contributions are deductible, grow tax-free, and withdrawals for medical expenses are tax-free.
Choose the Best Filing Status
Head of Household
If you’re unmarried but financially support a dependent, this status offers:
- A higher standard deduction
- Better tax brackets
It’s one of the most tax-friendly statuses for single parents.
Married Filing Separately vs. Jointly
While most married couples file jointly, filing separately may be smarter if:
- One spouse has large medical bills
- You want to separate liability
Compare both options using tax software or a CPA to see which provides the higher refund.
File Electronically & Use Direct Deposit
E-Filing for Faster Refunds
The IRS recommends e-filing for speed and accuracy. Refunds typically arrive within 21 days, while paper returns can take up to 8 weeks.
Direct Deposit
Choose direct deposit to avoid mail delays and receive your refund directly in your bank account.
Track your refund using the “Where’s My Refund?” tool.
Don’t Miss the Deadline
The standard deadline is April 15, 2025. If you need more time, file Form 4868 for an extension to October 15, but note:
- You must still pay any taxes owed by April 15 to avoid penalties.
Learn how to file for an extension here.
Review Past Tax Years
If you missed a refund in the past, you may still have time to claim it. The IRS allows amended returns up to 3 years from the original filing deadline.
Example: For the 2021 tax year, the deadline to claim a refund is April 15, 2025.
Use Form 1040-X to file an amendment. Learn more here.
Helpful Tools from the IRS
- IRS2Go App – Track your refund and get updates.
- Tax Withholding Estimator – Plan for next year’s taxes.
- Interactive Tax Assistant – Answers common questions.
Find these at the IRS official website.
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FAQs on Tax Refunds Are Rolling Out
How do I check my refund status?
Use the “Where’s My Refund?” tool or IRS2Go app. You’ll need your SSN, filing status, and refund amount.
Can I claim EITC if I’m self-employed?
Yes, but you must accurately report your income and meet the eligibility criteria. Use Schedule C and SE to report.
What if I make a mistake on my return?
File an amended return using Form 1040-X. It can take up to 16 weeks to process.
Is the refund taxable?
No. Refunds are not taxable unless you received a state/local tax deduction for the previous year.
