Summary
Many Americans are receiving larger tax refunds this year due to recent changes in tax laws. As of March 20, the IRS reports that the average refund is $3,571, up from last year. These increases are largely because of new tax policies introduced under President Donald Trump.
Key Facts
- The average tax refund in 2026 is $3,571, which is 10.9% higher than last year.
- The IRS expects about 164 million tax returns to be filed by April 15.
- New tax changes under President Trump include tax cuts on tips and overtime pay.
- An enhanced Child Tax Credit is part of the recent tax changes.
- Older taxpayers (65+) can claim an extra $6,000 deduction under certain income conditions.
- Approximately 45% of tax returns filed earlier have used the new tax breaks.
- Electronic filers who choose direct deposit usually get refunds within three weeks.
