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Home/Briefs/taxation
BriefApril 16, 2026 · 05:30 PM

Retroactive Tax Cuts Increase Average Refund to $3,521

The average tax refund hit $3,521 as of the week ending March 27, an 11.1% increase over the same point last year. The IRS issued more than 62 million refunds totaling about $222 billion up to late March. This increase reflects retroactive 2025 tax cuts in the One Big Beautiful Bill Act (OBBBA), which expanded standard deductions, increased the Child Tax Credit, and created new deductions for tips, overtime, and older adults.

Logan Thorne
TaxationFederal Tax LawIRS

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