The Internal Revenue Service (IRS) began accepting 2024 income tax returns on 27th January. Taxpayers have until 15th April 2025 to file their 2024 returns via mail, online, or with the help of a tax preparer.
Many taxpayers depend on tax refunds to make ends meet, and they attribute their financial situation to high inflation, depleted savings, or mounting debt. It is estimated that, on average, three out of four tax filers can expect to receive a refund from the IRS. The speed of tax refunds depends on several factors, like the mode of filing, information accuracy, and the processing time of the taxpayer's bank to make the funds available to the account holder.
