Trump predicts record tax refunds in 2026. Here’s how new tax laws, withholding changes, and timing could mean a bigger refund—or lower taxes—for you.

IRS will start accepting tax returns on Jan. 26. Use direct deposit for refunds and the "Where's My Refund" tool to track it, IRS says. How it works.

Treasury Secretary Scott Bessent predicted "gigantic" tax refunds of $1,000-$2,000 for many Americans filing in 2026 due to Trump's tax cuts.

Millions of borrowers are set to have their tax refunds seized by the government due to outstanding defaulted federal student loans.

According to the order, it is “16 times more likely” for paper checks and money orders to be lost, stolen, returned undeliverable, or altered than electronically-disbursed funds. The IRS notes that every refund check it issues “costs the nation’s taxpayers more than $1,” while direct deposit refunds cost about a dime.

According to the Income Tax Department’s latest figures, about 8.80 crore returns have been filed for the Assessment Year 2025–26. While most have moved through verification, nearly 63 lakh returns remain under processing — keeping many refund claims in limbo.

The IRS will start accepting 2025 tax returns on Jan. 26, marking the official start of the 2026 tax filing season