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Millions tap Trump tax cuts this filing season as refunds top $3,400

Video Tax extension myth busted: Why filing late could cost you more than you think Chief tax officer at Jackson Hewitt Mark Steber explains filing an extension may give you more time to submit paperwork — but the IRS still expects your payment on time, and missing that deadline can trigger costly penalties and interest.

More than 53 million tax filers used at least one of President Donald Trump’s signature tax breaks this filing season, as the average refund climbed above $3,400, according to Treasury Department data released on Tax Day.

The figures mark the first filing season since the Republican-backed "Working Families Tax Cuts" were passed in July 2025 and implemented by the IRS, with Trump administration officials touting broad uptake and increased tax relief.

Wednesday is the deadline to file taxes for the 2025 earning year, and the president promised the "largest tax refund season in U.S. history" thanks to his One Big Beautiful Bill Act.

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President Donald Trump signs sweeping spending and tax legislation, known as the "One Big Beautiful Bill Act," during a picnic with military families at the White House on July 4, 2025. (Reuters/Ken Cedeno)

As of April 14, the average refund rose 11% compared to the previous filing season, Trump's Treasury Department claims. Filers who used at least one of the new provisions saw an average tax cut of about $800, the new report found.

The data points to widespread use of several provisions in the new law.

About 25 million filers claimed a deduction for overtime pay, while roughly 6 million claimed a tax break on tips. An estimated 30 million seniors took advantage of an enhanced deduction, and approximately 34 million families claimed an expanded child tax credit.

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Tax scams have evolved from unemployment fraud to social media "tax hacks," with the IRS warning of new threats for the 2026 filing season. (Michael Bocchieri/Getty Images)

Another 105 million filers used the expanded standard deduction, while about 1 million deducted interest on car loans for new American-made vehicles.

Treasury also said more than 5 million "Trump Accounts" have been opened, including about 1.2 million eligible for a $1,000 pilot program contribution.

The accounts, created under President Donald Trump’s sweeping One Big Beautiful Bill Act, are government-backed investment funds for children designed to grow over time.

They function similarly to traditional long-term investment vehicles, but with rules tailored to protect young savers.

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Identity theft and fraudulent tax filings remain top concerns for the Internal Revenue Service (IRS) as criminals exploit confusion around credits and filing rules. (Andrew Harrer/Bloomberg via Getty Images)

Treasury Secretary Scott Bessent said the results show the administration’s tax policy is delivering meaningful relief to workers and families.

"Under President Trump, we uphold the foundational principle that hardworking Americans should be rewarded, not punished with tax hikes," Bessent said in a statement included in the data release.

He touted that taxpayers are "keeping more of what they earn and seeing their paychecks go further."

Amanda covers the intersection of business and politics for Fox News Digital.

Read original at Fox News

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