It’s Tax Day. Ahead of the deadline, 53 million filers used new Trump tax exemptions, Treasury says


WASHINGTON (AP) —

It’s Tax Day on Wednesday, the deadline for most Americans to file taxes, and the Trump administration says millions of people have already used new breaks such as no tax on tips and overtime, exemptions for interest on certain car loans, deductions for some seniors, and Trump Accounts for children’s savings.

More than 53 million filers claimed a deduction under one of those provisions from Republicans’ massive tax and spending law, a Treasury official told reporters Tuesday ahead of the deadline, with 6 million people claiming no tax on tips, 21 million claiming the overtime deduction and 30 million older Americans claiming the enhanced deduction.

The official, who spoke on condition of anonymity to preview the numbers, said the 2026 filing season was a success from the administration’s perspective.

Still, the latest data comes as most Americans, or 7 in 10, still think their taxes are too high, according to recent polling, despite the passage of the Republican tax law which promised big savings for taxpayers.

As the tax season kicked off in January, the White House boasted that average returns were projected to rise by at least $1,000. But currently, the average refund amount is $3,462, according to the latest IRS data, which is up 11% or about $350 from last tax year’s $3,116 average refund payment.

Treasury has shifted its messaging to tout that tax refunds this season are up 24% compared with the four-year average of refunds before President Donald Trump took office.

The White House has been trying to promote Trump’s tax cuts as a way to get voters more enthusiastic about the way he’s handling the economy ahead of November’s midterm elections, but the message has been overshadowed for weeks by higher gas prices caused by the war in Iran.

The 2026 season comes as the IRS has gone through a leadership turnover and reduced its workforce by 27% over the past year through cuts brought on by the Department of Government Efficiency.

IRS CEO Frank Bisignano is set to testify in front of the Senate Finance Committee on Wednesday.

In his public testimony to lawmakers, Bisignano planned to tout the IRS’ implementation of the Republican tax law.

However, Democratic lawmakers zeroed in on IRS disclosures of confidential taxpayer information to Immigration and Customs Enforcement as part of an agreement between ICE and the Department of Homeland Security to share information for the purpose of identifying and deporting people illegally in the U.S.

Fatima Hussein, The Associated Press



Source link

  • Related Posts

    15% just for Showing Up!

    Changes are coming for Ontario high school students if the newest legislation is passed. It was just tabled, and is already at 2nd reading, so I imagined it’s going to be…

    Vancouver council approves 250-room floating hotel on downtown waterfront

    VANCOUVER — Vancouver’s council has approved a 250-room floating hotel on the city’s waterfront that councillors say would bring more accommodation capacity and generate economic activity in the area. The…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Vancouver council approves 250-room floating hotel for waterfront

    Vancouver council approves 250-room floating hotel for waterfront

    Suspect accused of planting pipe bombs on eve of January 6 faces new charges | US Capitol attack

    Suspect accused of planting pipe bombs on eve of January 6 faces new charges | US Capitol attack

    Ticketmaster is an illegal monopoly, jury rules

    Ticketmaster is an illegal monopoly, jury rules

    Mobile Season 4 — Eternal Prison

    Mobile Season 4 — Eternal Prison

    French boy found unable to walk after year confined to van, father faces decades in prison

    No. 1 UCLA baseball’s 27-game win streak comes to an end

    No. 1 UCLA baseball’s 27-game win streak comes to an end