Summary
Preliminary IRS data show the 2026 U.S. tax filing season is delivering larger refunds than at the same point last year, largely due to tax changes from the “One Big, Beautiful Bill” that cut taxes and expanded deductions. Early figures indicate average refunds are up about 10–11% compared with 2025, with many taxpayers seeing higher payouts. However, filings and processing are running behind last year’s pace, reflecting staffing cuts and adjustments to the new laws. The IRS expects most refunds, including those tied to refundable credits, to be issued by early March as the season progresses.
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