Topic
tax refunds
6 stories related to this topic, newest first.
New York Postbusiness41 days ago
Millions of Taxpayers May Qualify for COVID-Era Penalty Refunds With July 2026 Deadline
A federal court ruled last November that disaster-related tax filing extensions should have applied throughout the COVID-19 pandemic period from January 2020 through July 2023. The decision could allow refunds of failure-to-file and failure-to-pay penalties assessed during that t…
Substrate placeholder — needs reviewpolitics60 days ago
Average U.S. Tax Refunds Rose 11.1% This Year Amid New Deductions
Average tax refunds for U.S. filers increased to $3,462 this year, up 11.1% from last year, following new deductions introduced under President Trump's tax legislation. Experts noted that delayed filings and confusion over eligibility may have limited the rise. More than 53 milli…
fastcompany.comfinance61 days ago
OBBBA Tax Refunds Total $75-90 Billion; Gas Prices Rise 40% in Iran Conflict
Wall Street analyses indicate that surging gasoline prices due to the U.S.-Israel strike on Iran and the Strait of Hormuz closure have neutralized much of the consumer boost from the One Big Beautiful Bill's tax refunds. Goldman Sachs and Morgan Stanley project diminished househo…
rnz.co.nzworld62 days ago
BofA Card Spending Data Indicates Stronger Retail Sales Than Consensus Estimates
Data from BofA credit and debit card spending suggests retail sales may exceed consensus estimates despite rising gas prices. The consensus estimates include 1.4% headline growth, 1.4% ex-auto, and 0.2% for the control group. This trend is attributed to higher year-to-date tax re…
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Substrate placeholder — needs reviewpolitics67 days ago
Over 53 Million Tax Filers Claim Provisions from 2025 Tax Legislation in Current Season
Treasury Department data indicates that more than 53 million tax filers utilized at least one provision from the 2025 tax cuts during this filing season. The average refund reached above $3,400, marking an 11% increase from the prior year. The data reflects the first implementati…
Substrate placeholder — needs reviewfinance72 days ago
IRS Data Shows Average Tax Refund 11% Higher This Season Compared to 2023
The Internal Revenue Service reports that the average tax refund for the current filing season stands at about 11% higher than during the same period in 2023. This figure is based on data from tax returns processed so far. The increase reflects adjustments in tax policies and wit…