Summary
IRS CEO Frank Bisignano says that Americans are expected to receive the largest tax refunds ever in 2026. This prediction is linked to the One Big Beautiful Bill Act (OBBBA), which aims to lower taxes and increase refunds, though it may also increase the national debt.
Key Facts
- The IRS predicts the largest tax refunds in U.S. history will occur in 2026.
- President Trump's administration points to the One Big Beautiful Bill Act (OBBBA) as the reason for higher refunds.
- OBBBA is expected to benefit middle-class Americans and Social Security recipients with reduced taxes.
- Critics say the bill could increase the national debt by at least $3.4 trillion.
- A report found the average tax refund in 2026 could be about $3,800, up from $3,052 in 2025.
- Larger refunds stem from unchanged tax withholding following the bill's passage.
- The IRS has set the tax filing deadline for April 15 next year.
