IRS Average Tax Refund Rises by Hundreds of Dollars for Millions
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.
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