The IRS unveiled new income tax brackets and deductions for 2025
The IRS has announced key tax changes for 2025 to account for inflation, including adjustments to income tax brackets, deductions and capital gains.
Straight Arrow News
Tax season starts on Monday.
That’s when the IRS officially starts accepting tax returns.
Many Americans are already counting on refunds. a Recent surveys Qualtrex for Intuit Credit Karma has conducted that more than one-third of taxpayers rely on their tax refunds to liquidate shares. The rate was even higher among millennials, at 50%.
A survey of 1,000 American adults also found, “Of those who rely on their return, half (45%) say it is for increased living and necessities (i.e., housing, groceries).” is due to price. Others point to inflation (37%) and living paychecks (21%).
Whether you’re among them or just want your money, here’s when you can expect your tax refund and how to track it.
When should I expect my tax refund?
It depends on how you file your taxes and how you choose to receive your refund.
If you file electronically and your return is accurate and complete, the IRS says it can take less than three weeks to get your refund if you choose direct deposit and It should take even less time.
If you mail in a paper return, the refund should be issued within six to eight weeks of the return date.
How do I track my refund for taxes?
Once you file your taxes, you can Track your refund on the IRS website.
To do this, you will need your:
- Social Security Number or Individual Taxpayer Identification Number (ITIN)
- Filing status
- Exact refund amount
The IRS says the information is updated once a day, overnight. And once a refund is marked, “it may take up to 5 days to show up in your bank account or several weeks for your check to arrive in the mail.”
If there is a problem with your tax return that requires more information or additional review, the IRS will send you a letter and your Refunds may be delayed.
