"Next year is projected to be the largest tax refund season ever, and we're going to be giving back refunds out of the tariffs because we've taken in literally trillions of dollars," US President Trump said during a Cabinet meeting at the White House Tuesdayhttps://t.co/aXiTZ4gAGx ...

Where did our tax refund go sweetie? https://t.co/xDgCXmGgM2Watcher.Guru (@WatcherGuru):JUST IN: 🇺🇸 White House says tax refunds in 2026 are projected to be the "largest ever." https://t.co/NM39VtxCti ...

Core Insights - A new wave of tax refunds is expected for Americans in 2026, driven by tax cuts from the One Big Beautiful Bill Act (OBBBA) retroactively effective from January 1, 2025 [1] - The average tax refund is projected to increase to approximately $3,743 in 2026, up from $3,186 in the previous tax year, indicating a potential increase of $557 [2] - The distribution of these tax benefits is uneven, with specific groups benefiting more than others, which could lead to unintended economic consequences [2][3] Tax Cuts and Deductions - The OBBBA tax cuts primarily benefit certain demographics, such as those earning overtime and tips, car owners financing U.S.-assembled vehicles, seniors over 65, and families with children due to an enhanced child tax credit [3] - Most tax breaks provided by the OBBBA are deductions rather than credits, meaning higher-income individuals will receive greater benefits due to their higher marginal tax rates [4] Tariffs and Economic Impact - While personal income taxes are being cut, the Trump administration is simultaneously increasing import tariffs, with the effective tariff rate currently at 8% and projected to rise to 14.5% [5]

IRS Confirms That It Will Make The Switch From Paper Refund Checks https://t.co/5m7GNRsQUU ...

IRS Confirms That It Will Make The Switch From Paper Refund Checkshttps://t.co/lvRyXF8bpX https://t.co/lREXJcnOkO ...