India, May 6 -- As the US tax season enters its final stretch, millions of Americans are closely watching their mailboxes and bank accounts for one reason: tax refunds. For those who filed their federal income tax returns in late April, the Internal Revenue Service (IRS) is expected to issue a new round of payments this week, as reported by New York Tax Concept.

Between May 5 and May 11, many eligible taxpayers could see their refunds land in their accounts-especially those who filed electronically and requested direct deposit, as reported by Marca.

Refunds expected this week are largely tied to returns processed around the week of April 14-20. Based on the standard IRS processing timeline, which typically runs up to 21 days for e-filed...