Overview
- Taxpayers who claimed the EITC or ACTC, filed electronically, chose direct deposit, and had error-free returns can expect their refund by March 2, according to the IRS.
- Banks may take additional time to post deposits, and many do not process payments on weekends or federal holidays, which can shift when funds become available.
- The IRS says it may request more information for some EITC and ACTC returns and will send a letter if additional verification is needed.
- More than 40 million returns have been filed so far this season, and the average refund stands at $3,804, over 10% higher than at the same point last year.
- For the 2025 tax year, the maximum EITC ranges up to $8,046 for filers with three or more qualifying children, and the refundable Additional Child Tax Credit can provide up to $1,700 per eligible child.