Trump himself has also highlighted the size of this year’s refunds (3), saying they “are substantially greater than ever before,” and even cautioning Americans: “Don’t spend all of this money in one place!”If you haven’t filed yet, you can find the new IRS Schedule 1-A and its related instructions — which allow filers to claim these new deductions — here .Notably, the Treasury said nearly 45% of filers have already claimed at least one of the new tax breaks on Schedule 1-A. More than 3.5 million returns cla ...

NoDerog / Getty Images/iStockphoto Many Americans are bracing for smaller tax refunds this year, but that pessimism may be misplaced. Although 52% of Americans expect to receive a refund, only 35% believe it will be bigger than last year’s, according to a recent Intuit TurboTax survey. The reality is that thanks to new tax changes taking effect, many filers may actually see larger refunds or owe less. Find Out: How Boomers Can Claim a $6,000 Extra Deduction This Year Read Next: 5 Low-Effort Ways To Make ...

Have you filed your taxes yet? According to a recent survey by Intuit Credit Karma, 52% of U.S. adults expect a refund this year, and 54% of taxpayers plan to file early to expedite their refunds. Here’s when your refund may arrive and how to check its status. Where is my federal tax refund? If you filed your federal taxes electronically and included your banking information, then you may expect a direct deposit within 21 days. If you did not include banking information, you may expect a paper check re ...

Key Takeaways Using a $3,000 tax refund to pay down credit card debt at a typical 25% APR could prevent about $750 in interest over a year. Paying off debt with a 25% interest rate is like earning a guaranteed 25% return—far higher than today’s savings account rates. If you lack emergency savings, have a very low APR, or qualify for a 0% balance transfer, other uses for your refund may make more sense. It’s one of the few things many people look forward to at tax time: the possibility of a refun ...

If you haven't started working on your taxes yet, you're no doubt in good company. But if you're in line for a refund, you may be doing yourself a big disservice. The longer it takes you to file, the longer you'll have to wait for that money. As of March 6, the IRS had processed close to 60 million tax returns. It had also, by that date, issued almost 44 million refunds. And speaking of refunds, the average number as of March 6 may surprise you. Will AI create the world's first trillionaire? Our team just ...

The average tax refund amount is up nearly 11% from a year earlier, totaling $3,623 for the week of March 13, according to data from the Internal Revenue Service. The total amount the government has refunded, meanwhile, is up 12% in the same time frame, reaching $182.6 billion, the IRS said. Visits to IRS.gov have also surged more than 54% from a year ago as the tax filing season marches into its final weeks, with nearly 70 million returns already received by the government ahead of the April 15 filing de ...

KEY TAKEAWAYS Tax filing season has started, and to get a refund quickly, taxpayers need to submit their 2025 tax returns accurately, and typically, electronically. The "One Big Beautiful Bill" made changes to the tax code that will give many taxpayers larger refunds. These changes, along with major layoffs that affected the IRS in 2025, may delay some taxpayers' returns. The 2026 tax filing season is well underway, and you'll want to submit your tax return as soon as possible, without mistakes, ...

KEY TAKEAWAYS More than one-third of Americans will use this year's tax refund to pay down debt. The average tax refund for the 2026 filing season is expected to be $750 higher than the previous year. Consumers can use their refunds to help pay down the rising debt levels that many Americans struggled with in 2025. More than two-thirds of Americans expect to receive a tax refund this year, and the majority will use it to pay down their debt. With new and expanded tax breaks from the "One Big, Be ...

Nearly half of American taxpayers are counting on an IRS refund to help them pay the bills or get out of debt, a new survey finds. This is a good year for refunds. The IRS has returned $161 billion to individual taxpayers through March 6. That’s 11% more than the agency refunded through the same week in 2025. The average refund is $3,676, also up from last year. Refunds are higher this year, and taxes lower, thanks to President Donald Trump’s One Big Beautiful Bill Act, according to an analysis from the ...

Key Takeaways A one-time $3,000 refund invested at 8% annual growth could become about $65,000 over 40 years thanks to compounding. If you can invest your refund every year, this dramatically increases the impact—potentially building a six-figure retirement balance over time. Roth IRAs, Traditional IRAs, and 401(k)s each offer different tax advantages for putting that refund to work. For millions of Americans, tax season isn’t just about paperwork—it’s about whether a refund is coming. Last year ...