Summary
Millions of Americans are receiving higher federal tax refunds this year, averaging over $3,700, due to new tax rules backed by President Donald Trump. These new rules include tax breaks for overtime pay and senior deductions, which started applying in the 2025 tax year.
Key Facts
- Average tax refunds this year are over $3,700, higher than last year's $3,100.
- The increase is linked to tax changes supported by President Trump.
- New tax rules include exemptions for overtime pay and tips, and deductions for seniors.
- About 63.5 million tax returns have been processed so far, representing 45% of expected total returns.
- Over 27.5 million tax filers have claimed new tax provisions from the One Big Beautiful Bill Act.
- Treasury data shows nearly 3.5 million children's investment accounts, called "Trump Accounts," have been opened.
