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New data from Internal Revenue Service (IRS) Shows that the reimbursement of average tax received by American taxpayers during the 2024 income declaration season so far is higher than those spent a year ago.
IRS data until February 28, 2025 show that the average tax reimbursement The amount of income declarations filed until this date was $ 3,382. This is approximately 6.3% higher than the average reimbursement of $ 3,182 on March 1, 2024.
The data has also shown that the total number of reimbursements and amounts reimbursed to taxpayers so far exceed last year.
Until February 28, the total number of reimbursements issued increased by 1.7% compared to last year to just over 36.9 million issued to the season of 2024 income declarations. The total reimbursed amount has had a greater increase so far, with $ 124.8 billion reimbursed – up 8.1% compared to last year.
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The Internal Revenue Service (IRS) indicated that average tax reimbursements are higher than a year ago until the first month of the deposit season. (Kayla Bartkowski / Getty Images) / Getty Images)
The vast majority of taxpayers receive their reimbursements direct deposit – Of the 36.9 million reimbursements issued, more than 36.1 million, or around 98%, were paid by direct deposit.
The total number of reimbursements of direct deposits also increased by 2.2% compared to a year ago, while the total amount reimbursed increased by almost $ 10 billion, or 8.2%, to $ 124 billion until February 28.
The average tax reimbursements issued by the direct deposit also increased in size compared to a year ago, going from $ 3,244 at this stage of the deposit season last year to $ 3,436 this year, an increase of 5.9%.
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The IRS issues tax reimbursements when taxpayers pay more than they should during the year. (Katopodis / Getty Tasos images) / Getty Images)
The IRS makes reimbursements to taxpayers who have paid more taxes than they should.
Refunds can be issued by direct deposit in a check, economy or retirement account – including being divided up to three different accounts.
The IRS can also send paper checks to taxpayers, while other options include prepaid debit cards, certain mobile payment applications or deposits in a individual retirement account (Ira).
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The IRS can send tax reimbursement checks to taxpayers who refuse to use a direct deposit. (Istock / Istock)
Taxpayers who expected reimbursements for direct deposits but who received a paper check may have obtained the paper check because the direct deposit account is not under their name, the name of their spouse or a spouse account; Because the financial institution rejected a direct deposit; Or more than three electronic reimbursements have been requested for an account.
Taxpayers can verify the status of their tax refund using the “WHERE’s My REPER” tool of the IRS to see the status of their reimbursement. The information appears approximately 24 hours after a taxpayer has submitted a declaration of the current year, or 4 weeks after producing a paper declaration. For the yields of the previous year, it takes approximately 3 or 4 days to appear in the system.
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The IRS updates the tool where my reimbursement tool is once a day during the night and is generally not available each morning between 4 a.m. and 5 a.m., while the updates are processed.
To use the tool where my refund is, taxpayers need their Social security Or the identification number for individual taxpayers, their deposit status and the exact amount of refund to their declaration.