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

The Trump administration’s changes to the federal government could alter the tax filing process for this year’s reporting period and beyond. Reports indicate the Department of Government Efficiency has taken a long look at the IRS,

In 2025, the IRS has issued over $124 billion in tax refunds, marking an 8.1% increase from the previous year. This surge in refunds comes despite fewer tax returns being filed, attributed to inflation adjustments and new deductions.

As the April 15 filing deadline looms, the Internal Revenue Service reminds taxpayers that after three years, any unclaimed 2021 tax year refunds go to the U.S. Treasury.