The IRS said that they got about 161,489,000 in 2024. It’s about 0.9% more than in 2023. Keep in mind that not everyone who files taxes gets a return from the IRS.
Only 103,185,000 of those people got their money back. That means that more than 58,000,000 people either didn’t get their money back or had to pay the IRS what they owed.
The IRS only sent direct deposits to 93,506,000 filers
American taxpayers who got a tax refund from the IRS and those who got a direct deposit are different. Of those who got a refund, 9,679,000 got a check instead of a direct deposit.
But the IRS says to open a bank account so that you can get your tax returns faster with a direct deposit. As you know, the fastest way to get your tax refund is to file online and ask for a direct payment.
It can take a lot longer to give out paper checks. So, there’s no reason to wait if you need the money in your bank account right away. You only need to get your routing and account number. You can do this by logging into your online banking account or going to a store near you.
Advice from the IRS for people who don’t have a bank account yet
Some people in the US still don’t have a bank account. Taxpayers can get help from the IRS on how to open an account at a bank that is backed by the FDIC. Another way to do it is with the National Credit Union Locator tool: http://mapping.ncua.gov/
This program helps veterans who don’t have a bank account yet. It’s called the Veterans Benefits Banking Program (VBBP). You can then use the financial services that banks that are part of the program give.
You could also get a prepaid debit card or even a mobile app that lets you put your tax refund directly into your bank account. To get your money from the IRS, they will need to know your banking number and account number.
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