The IRS has issued more than 29.6 million individual income tax refunds through Feb. 21, up 2.3% from a year ago.

The average tax refund amount is higher than it was last year at this time, according to a batch of data released by the IRS late last week. As of March 7, the IRS says it has paid out 43,647,000 refunds for a total of $145.

The Internal Revenue Service says more than 1 million taxpayers are still owed refunds from three years ago. The deadline is about to expire.

The layoffs, which have been directed by the so-called Department of Government Efficiency (DOGE), led by billionaire and "special government employee" Elon Musk, have sparked concerns among experts who fear that the IRS won't be able to process Americans' tax refunds as quickly as usual this year.

The EV tax credit saw a major revamp in 2024, which enabled some buyers to benefit at the point of sale. But some tax headaches are hitting now.

There are five different routes to choose from when it comes to getting your refund, as listed on the IRS website: Out of all those options, direct depositing the “is the fastest way to get your refund,” the IRS said. You can also “split your refund” between three bank accounts, if desired.

If you've already filed your tax return, it's natural to wonder when you'll receive your refund. One of the most common questions is the exact time the IRS makes deposits.