Tax refunds are up over 10 percent this year, on average, as tens of millions of Americans take advantage of the “No Tax on Tips” and “No Tax on Overtime” provisions, among others, in the “Big Beautiful Bill.”
“As of March 27, IRS filing season statistics show the agency had issued nearly 63 million refunds, with a cumulative total of $221.7 billion refunded. The cumulative refund amount was up 13.6% over 2025, while the average refund amount was up 11.1% over last year. On average, taxpayers are receiving $3,521 back this year,” Reuters reported.
The White House noted that Americans earning $15,000 to $80,000 per year are receiving a 15 percent tax cut on average.
More than 5.5 million Americans have claimed “No Tax on Tips” so far, with an average deduction of over $7,100, while over 25 million have claimed “No Tax on Overtime,” with an average deduction of
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!