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Tax refunds are expected to be huge this year. How to get yours ASAP
Tax refunds are expected to be huge this year, so many Americans may want to know the fastest way to get their hands on theirs is by free, electronic direct deposit.
Every year, tax refunds mark the biggest payday of the year for millions of Americans. Typically, 75% of Americans receive refunds each year. The average refund in 2025 was $2,939, IRS data showed. This year, refunds could be as much as 30% more due to new provisions from President Donald Trump's mega tax and spending bill, according to James Knightley,chief international economist at Dutch bank ING.
Nine out of 10 taxpayers already receive their refunds through direct deposit, but the IRS wants to push that number higher because it's the fastest and safest way to receive government payments. The IRS started phasing out paper checks for individual taxpayers last Sept. 30.
What to know before you file your taxes this year
These are some of the most common errors you should avoid when filing your taxes, according to experts and the IRS.
The "One Big, Beautiful Bill Act," which became law last year, introduced major changes to the U.S. tax code that could increase your deductions and tax credits for the 2026 tax filing season.
Tax deductions decrease the amount of taxable income you report, while tax credits lower your tax bill dollar for dollar. Both are valuable tools for minimizing what you owe.
When filing your return, you have the option to choose between taking the standard deduction or itemizing your deductions. To determine which benefits you most, calculate your total itemized deductions. Compare that amount to the standard deduction available to you. Selecting the higher of the two will result in the greatest tax savings.
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Why your tax refund could be much bigger this year than you expected
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If you've been dreading filing your taxes, there might be a pleasant surprise awaiting you on the other end: a larger-than-usual refund.
President Donald Trump's "Big Beautiful Bill," which passed in July, aimed to overhaul Americans' taxes by extending 2017 tax cuts and enacting a slew of new measures. Those include new deductions for Social Security benefits to older Americans, an increase in the child tax credit, and deductions for taxes on tips or overtime.
For more detailed information, explore updates concerning Tax refunds are.
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