US EditionIt's Tax Day. Here's How Big the Average Tax Refund Is in 2026.
The average refund is $3,462, but economists say higher gas prices and tax changes are muting the cash households notice.
- On Tax Day, the IRS reported average tax refunds rose 11% to $3,462, an increase of around $350 from 2025. The gain marks a significant uptick despite tepid taxpayer enthusiasm.
- Filers claiming deductions under the "One Big Beautiful Bill Act" saw larger refund increases. The law introduced breaks for overtime and tips, plus an enhanced $6,000 deduction for seniors 65 and up.
- Rising gas prices driven by the Iran war are offsetting refund gains for households. Chief U.S. economist Michael Pearce at Oxford Economics said, "The tax refund season might be very good but it's also being offset by this price in gasoline."
- Many Americans prioritize using refunds to reduce debt rather than spend freely. According to Bank of America Global Research, over one-third plan to pay down debt, while about 13% expect to build savings.
- While The White House projected refunds would rise by $1,000, actual payouts fell short. Deputy head of U.S. policy Don Schneider at Piper Sandler called that target a "hypothetical maximum" assuming all filers receive refunds.
13 Articles
13 Articles
Michigan refunds average over $3,500 more after One Big Beautiful Bill tax cuts
Michigan taxpayers are collecting an average refund of more than $3,500 thanks to the One Big Beautiful Bill signed into law by President Donald Trump last year. IRS data shows the average refund of $3,508 outpaces the national average of $3,400, up 11% from 2025, though averages vary by income. In Michigan, the average refund for folks making less than $50,000 is $2,634, while it’s $3,123 for Michiganders earning $50,000-$100,000. Those with in…
Average tax refund is $3,400, an 11% increase from last year: Treasury Dept
The US Treasury building in Washington, DC, US, on Tuesday, June 17, 2025. (Al Drago/Bloomberg via Getty Images) (WASHINGTON) — Wednesday is Tax Day, the last day of this year’s tax season, and the average refund for filers is up 11% compared to last year’s filing season, according to new Treasury Department data. The average refund this filing season is “over $3,400,” the Treasury Department data said. The data, which is as of Tuesday, also sho…
Average Federal Tax Refund Is More Than $3,400
With the April 15 tax filing deadline at hand, the average refund this year has risen to more than $3,400—an 11 percent increase from last year—according to the Treasury Department. The department highlighted this tax season as the first under the One Big Beautiful Bill Act, which made the 2017 tax cuts permanent and introduced new provisions, including the elimination of taxes on tips and overtime pay. More than 53 million taxpayers claimed ded…
Tax refunds are running higher than last year. Here’s how to make the most of yours
The average amount returned: $3,462. That’s up $346 (or 11.1%) from the same period last year, but still well below the average $1,000 boost that the Treasury Department projected.
Tax season was supposed to bring big refunds. So far they're less than expected
The average refund so far is $350 more than last year at this time, despite projections that it would be closer to $1,000 due to Republican-led tax changes as part of the Big Beautiful Bill Act.
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