Many Americans could soon see a pleasant surprise in their bank accounts due to retroactive tax changes under President Donald Trump ’s “big beautiful bil.”

Millions of taxpayers are projected to receive larger refunds when they file their 2025 returns in early 2026. Analysts say the combination of new deductions, unchanged IRS withholding tables, and targeted tax relief could result in one of the most generous refund seasons in recent history.

Why bigger refunds are on the way

The legislation passed in July introduced several tax breaks for 2025, including an expanded standard deduction, a “bonus” deduction for seniors, and new relief on tipped income.

Because the IRS has not yet updated its 2025 tax withholding tables, many workers are still paying taxes at the same rate as be

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