The average tax refund each year, and how tax refunds work
The average tax refund so far in 2025 is $3,221, up $140 from the average refund this time last year. Here’s how tax refunds work.
3 min read
Mar 31, 2025
Andrea Coombes, CFP®
Editor, Tax
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25Years of experience
LICENSE
- CFP®
EXPERTISE
- Taxes
- Personal finance
- Investing
- Saving for retirement
- Credit and debt
EDUCATION
- University of California at Berkeley/B.A. in Sociology
- University of California at Berkeley/Master’s in Journalism
Andrea Coombes, a tax editor at Bankrate, loves to translate complex personal finance topics into understandable content that helps people live their best financial lives. She’s a Certified Financial Planner™ and over the past 25 years has worked as a financial coach, personal finance writer and editor, and volunteer tax preparer.
Her work has been published in The Wall Street Journal, USA Today, MarketWatch and many newspapers nationwide. She's been interviewed on local and national TV and radio, including NPR's All Things Considered, CBS News, NASDAQ and Marketplace.
Andrea has moderated panels on how to invest for retirement, how to use 529 college savings plans and more, and she's an experienced personal-finance speaker who has presented to groups on a variety of topics such as how to budget, improve credit, manage debt, and build savings. She's also worked as a personal financial coach and certified consumer credit counselor, helping people reach their goals. For two tax seasons, she worked a volunteer tax preparer.
Andrea's latest articles
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Short-term capital gains tax rates, and how to reduce your taxes
Paying attention to short-term capital gains tax rates can help you save money in the long run.
3 min read Nov 27, 2024 -
Short-term vs. long-term capital gains: How to trim your tax bill
The federal government encourages Americans to invest, but Uncle Sam wants a cut of any profits. Capital gains are the financial profit you earn when you sell an asset like a home, business or stocks and [...]
4 min read Nov 27, 2024 -
Taxpayer Identification Number (TIN): What it is and how to find it
A TIN is a nine-digit number used to identify taxpayers. If you need to file taxes, you’ll need a TIN.
2 min read Nov 26, 2024 -
These 9 states have no income tax — that doesn’t always mean you’ll save money
These 9 states have no income tax, but before you move there, consider other potential costs.
6 min read Nov 26, 2024 -
Inheritance tax: How it works, and how it differs from estate tax
Only a handful of states have inheritance taxes, but it’s important to understand how they work and how they differ from estate taxes.
3 min read Nov 22, 2024 -
Here’s what happens if you don’t file your taxes
If you don’t file your tax return, the consequences vary depending on whether you owe a tax bill or are expecting a tax refund.
4 min read Nov 20, 2024 -
4 year-end tax planning strategies to save money in 2024 and beyond
These four year-end tax strategies can help trim your taxes for 2024 and beyond.
4 min read Nov 19, 2024 -
W-4 form: How to fill it out in 2024-2025
The steps you need to follow to fill out your W-4 form. The W-4 determines how much in taxes is withheld from your paychecks.
6 min read Nov 13, 2024