Close Menu
  • Home
  • Finance News
  • Personal Finance
  • Investing
  • Cards
    • Credit Cards
    • Debit
  • Insurance
  • Loans
  • Mortgage
  • More
    • Save Money
    • Banking
    • Taxes
    • Crime
What's Hot

General Motors: Old-School Automaker… or Hidden Gem?

April 17, 2026

What Voids a Car Warranty or Claim and How to Prevent It

April 17, 2026

Survey: Real estate and cash top Americans’ list of preferred investments over next 10 years

April 17, 2026
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Smart SpendingSmart Spending
Subscribe
  • Home
  • Finance News
  • Personal Finance
  • Investing
  • Cards
    • Credit Cards
    • Debit
  • Insurance
  • Loans
  • Mortgage
  • More
    • Save Money
    • Banking
    • Taxes
    • Crime
Smart SpendingSmart Spending
Home»Finance News»Average tax refund is 11.2% higher, latest IRS filing data shows
Finance News

Average tax refund is 11.2% higher, latest IRS filing data shows

April 17, 2026No Comments3 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
Average tax refund is 11.2% higher, latest IRS filing data shows
Share
Facebook Twitter LinkedIn Pinterest Email

Milan Markovic | E+ | Getty Images

The average tax refund is 11.2% higher this season, compared with about the same period in 2025, according to the latest IRS filing data.

As of April 10, the average refund amount for individual filers was $3,397, up from $3,055 about one year ago, the IRS reported on Friday.

The IRS data reflects about 114 million individual returns received, out of about 164 million expected through Tax Day. Next week’s filing update is expected to include data through the April 15 deadline.

Read more CNBC personal finance coverage

President Donald Trump’s 2025 legislation, rebranded to the “working families tax cuts,” was a key talking point for Republicans on Tax Day.

With the November midterm elections approaching and Republicans defending slim majorities in Congress, many GOP lawmakers have highlighted Trump’s tax breaks and higher average refunds.

Meanwhile, affordability has been top of mind for many Americans amid rising costs of gas, electricity, food and other living expenses.

For filers who expected a refund this season, nearly one-quarter, or 23%, planned to use the funds to pay down credit card debt, and the same share said they would save the payment, according to the CNBC and SurveyMonkey Quarterly Money Survey, released in April. It polled 3,494 U.S. adults at the end of March.

Who benefited from Trump’s ‘big beautiful bill’ 

“It’s been a great tax season for the American people,” many of whom have benefited from Trump’s tax breaks, Treasury Secretary Scott Bessent said during a White House press briefing on Wednesday. 

More than 53 million filers claimed at least one of Trump’s “signature new tax cuts” — the deductions for tip income, overtime earnings, seniors and auto loan interest — the Department of the Treasury also announced on Wednesday.

See also  See Which Tax Provisions Are Expiring in 2025 — And How it Affects You

Those filers, who claimed the deductions on Schedule 1-A, have seen an average tax cut of over $800, according to the Treasury. Tax cuts can trigger a higher refund or reduce taxes owed, depending on the filer’s situation. 

Some filers who itemize tax breaks have also seen benefits from the bigger federal deduction limit for state and local taxes, known as SALT. Trump’s legislation raised that cap to $40,000, up from $10,000, for 2025.

The latest SALT deduction limit change is expected to primarily benefit higher earners, according to a May 2025 analysis of various proposals from the Tax Foundation.

The Treasury has not released data on how many filers have claimed the SALT deduction during the 2026 filing season. 

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.

Source link

average data Filing Higher IRS Latest Refund shows Tax
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleFed’s Waller says policy outlook depends on Strait of Hormuz
Next Article Survey: Real estate and cash top Americans’ list of preferred investments over next 10 years

Related Posts

Stocks making the biggest moves midday: RCL, XOM, CRML, NFLX

April 17, 2026

IMF urges banks to share data to fight fraud

April 17, 2026

Community college enrollment rises among high school grads

April 17, 2026
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Former son-in-law of Formula 1 tycoon is on trial for £200million money laundering charges

October 13, 2024

Mastering the Art of Living on a Budget

March 19, 2025

Who Must File a 2025 Federal Income Tax Return, How to File, and Filing Deadlines

January 30, 2026
Ads Banner

Subscribe to Updates

Subscribe to Get the Latest Financial Tips and Insights Delivered to Your Inbox!

Stay informed with our finance blog! Get expert insights, money management tips, investment strategies, and the latest financial news to help you make smart financial decisions.

We're social. Connect with us:

Facebook X (Twitter) Instagram YouTube
Top Insights

General Motors: Old-School Automaker… or Hidden Gem?

April 17, 2026

What Voids a Car Warranty or Claim and How to Prevent It

April 17, 2026

Survey: Real estate and cash top Americans’ list of preferred investments over next 10 years

April 17, 2026
Get Informed

Subscribe to Updates

Subscribe to Get the Latest Financial Tips and Insights Delivered to Your Inbox!

© 2026 Smartspending.ai - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.