Many Americans will see larger tax refunds in 2026 as a result of President Donald Trump’s One Big Beautiful Bill Act (OBBBA).
Most of the benefits of the retroactive features will finally hit next year, according to a new report from Oxford Economics.
Why It Matters
Tax refunds can range from hundreds to tens of thousands of dollars, depending on a person’s specific financial situation.
OBBBA updated tax withholding tables, leading to higher refunds for many Americans in 2026.
What To Know
The Congressional Budget Office estimated tax cuts of $24 billion for fiscal year 2025, but the new withholding tables will go into effect for many in 2026.
The Oxford Economics report showed that the changes could boost refunds and lower tax bills by as much as $50 billion. However, the rep