Millions tap Trump tax cuts this filing season as refunds top $3,400

NEWYou can now listen to Fox News articles! More than 53 million tax filers used at least one of President Donald Trump’s signature tax breaks this filing season, as the average refund climbed above $3,400, according to Treasury Department data released on Tax Day. The figures mark the first filing season since the Republican-backed “Working … Read more

Trump touted bigger tax refunds this year, but Americans will likely spend them on gas

WASHINGTON — The U.S. economy was supposed to start the year with a bang, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving most Americans with little extra to spend. “Next spring is projected to … Read more

Surging U.S. gas prices could erase bigger tax refunds, analysis finds

Higher U.S. gasoline prices stemming from the Iran war could effectively wipe out the fatter tax refunds many Americans are expected to collect this year, a new analysis found.  Economists from the Stanford Institute for Economic Policy Research (SIEPR) estimate that the average U.S. household will spend an additional $740 on gas this year because of the jump … Read more

Iran war threatens to erase the economic bump from bigger tax refunds

Americans are poised to receive bigger refunds when they file their taxes this year than they did in 2025, due to changes in the tax code. Already, U.S. households have received an average federal tax refund of $3,742, according to IRS data as of Feb. 27. That’s about 10.6% higher than the average refund was … Read more

Judge rules companies are entitled to refunds for Trump tariffs overturned by the Supreme Court

WASHINGTON — In a defeat for the Trump administration, a federal judge in New York ruled Wednesday that companies that paid tariffs struck down last month by Supreme Court are due refunds. Judge Richard Eaton of the U.S. Court of International Trade wrote that “all importers of record’’ were “entitled to benefit’’ from the Supreme … Read more

Companies are entitled to refunds for Trump tariffs struck down by Supreme Court, judge rules

Companies in the U.S. that paid tariffs invalidated by the Supreme Court in February are legally entitled to refunds, a federal judge ruled on Wednesday.  Judge Richard Eaton of the U.S. Court of International Trade in New York said that U.S. importers were “entitled to benefit” from the high court’s February 20 decision that President … Read more