In 2024, approximately 161,489,000 were received, according to the IRS. Compared to 2023, that is about 0.9% greater. Note that the Agency does not issue tax refunds to every taxpayer.

In reality, only about 103,185,000 of that amount were reimbursed. More than 58,000,000 people were consequently either not given a refund or had to pay the Internal Revenue Service the money that was due.

Only 93,506,000 taxpayers got a direct deposit from the IRS

It is reasonable to assume that 9,679,000 Americans received checks rather than direct deposits when comparing the number of taxpayers who received a refund from the IRS to those who received a direct deposit.

To obtain your tax return by direct deposit more quickly, the Internal Revenue Service advises that you bank. Just so you know, filing electronically and requesting direct deposit is the fastest way to get your tax refund.

The issuance of paper checks can take a lot longer. Therefore, if you definitely need the money in your bank account, there’s no reason to keep you waiting. To get your routing and account number, just log into your online banking account or stop by your neighborhood branch.

IRS tips for those who do not have a bank account yet

There are still some Americans without a bank account. The IRS provides information on how taxpayers can open an account with a bank that is guaranteed by the FDIC. Alternatively, you can use the National Credit Union Locator tool to do it:The website https://mapping.ncua.gov

The Veterans Benefits Banking Program, or VBBP, is available to veterans who do not currently have a bank account. This enables you to take use of the financial services that partner banks offer.

Getting a prepaid debit card or a smartphone app that allows for the instant deposit of tax returns is an additional choice. Naturally, in order to retrieve your funds from the IRS, they will require your account and routing numbers.

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