Average tax refund is up $350 compared to last year
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The average tax refund is about $350 higher so far this season compared to about the same time in 2025, according to the latest IRS filing data.
As of March 27, average repayment amount For individual filers, that amount rose to $3,521 from $3,170 about a year ago, the IRS reported Friday.
IRS data reflects approximately 88.4 million individual returns received. approximately 164 million are expected Until April 15.
This season, many applicants said President Donald Trump’s “big beautiful bill“In July.
Most workers in the US are W-2 employees; This means that companies pay taxes withholding from your paycheck throughout the year.
Although Trump’s legislation includes 2025 tax cuts, the IRS did not update withholding tax tablesand many workers overpaid taxes for the rest of 2025.
Generally, you can expect a tax refund when you pay too much tax. Alternatively, you may have a past due balance because you haven’t made enough payments.
The size of the tax refunds has been a focus for Republicans as the November midterm elections approach. The GOP noted that average refunds triggered by Trump’s tax cuts were higher because many Americans had affordability issues.
How is Trump’s legislation affecting returns?
Almost 50% of tax returns filed in 2026 included one of Trump’s “signature campaign policies”; Treasury Secretary Scott Bessent said issues such as tip income, overtime earnings, senior citizens and auto loan interest during a meeting in late March. “Fox and Friends” interview.
Bessent said the overtime deduction claimed on 25% of returns received by the IRS, accounting for nearly 20 million filings as of March 20, was “a home run.”
on January 26 releaseThe average taxpayer could get an extra $1,000 or more, the White House said, based on early October data from investment bank Piper Sandler. But so far, average tax refunds have been smaller, according to IRS data.
“We’re seeing an increase in refunds,” Tom O’Saben, director of tax content and government relations for the National Association of Tax Professionals, said at a news conference last week.
“I don’t know if it’s important, but one person’s significant value is another person’s insignificant amount,” he said.
