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IRS issues $43 billion more in refunds after Trump-era tax changes
The average refund rose to $3,275, up $333 from the comparable 2025 period, as the filing season saw both higher refund totals and more checks sent out.
By the end of the 2026 filing season, the IRS had issued $296 billion in taxpayer refunds, according to a Government Accountability Office report cited by Yahoo Finance. That total was $43 billion higher than the year before, a 17.0% increase.
Yahoo Finance also said the average refund increased by $333, or 11.0%, to $3,275, versus the comparable 2025 period. The IRS sent out more refunds as well, with over 8 million additional checks this year.
The White House characterized the higher refund totals as a “Trump Bump,” attributing the increase to tax changes enacted under President Donald Trump’s “One Big Beautiful Bill Act,” which created new deductions used by millions of taxpayers when filing 2025 returns.
Among the cited provisions were “no tax on tips” and “no tax on overtime.” Yahoo Finance noted that these tax breaks are set to expire after 2028, while it also pointed to broader discussion of where Americans might put a potential windfall.