U.S. Tax Refunds Soar, Average Payout Up 22%

The average tax refund has jumped 22% so far this season, according to Treasury Secretary and acting IRS Commissioner Scott Bessent. The 2026 tax season kicked off on January 26, but official filing data hasn't been released yet. Andrew Lautz, director of tax policy, says early data can be deceiving. The average refund for individual filers in 2025 was $3,052 through October 17. Refunds are typically smaller at the start of the tax season, but they tend to rise sharply in mid-February when the IRS starts issuing refunds with earned income tax credit or additional child tax credit. President Donald Trump has promised the "largest tax refund season of all time" thanks to new tax breaks, but experts warn that individual results may vary.