(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 showed that “over 53 million filers claimed at least one of President Trump’s signature new tax cuts,” which includes provisions from Trump’s sweeping legislation that was passed last year.
Treasury has also announced that more than 5 million filers have opened so-called Trump Accounts for children who were eligible under the law.
“Treasury and the IRS have worked tirelessly to ensure our tax system works for the people it is meant to serve,” Treasury Secretary Scott Bessent said in a press release on Wednesday. “From the shop floor to the kitchen table, taxpayers are feeling the difference of the largest tax cuts in our nation’s history, and millions of Americans are keeping more of what they earn and seeing their paychecks go further than ever before.”
Over 25 million filers have claimed No Tax on Overtime, with an average deduction of over $3,100, the department’s data noted, while more than 30 million seniors have claimed the Enhanced Deduction for Seniors, with an average deduction of over $7,500.
The data also showed that more than 105 million filers have claimed the permanently doubled standard deduction — the specific dollar amount that reduces the amount of income on which people are taxed.
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