Recent IRS filing data indicates the average tax refund has increased by 11.2%.
The average tax refund this season is 11.2% higher than in 2025, based on the latest data from the IRS. As of April 10th, the average refund for individual filers was reported to be $3,397, which is an increase from $3,055 last year. This data includes around 114 million individual returns, with expectations that about […]
Did you miss the tax deadline? Specialists recommend submitting your return now to reduce IRS penalties.
If you missed the tax deadline on April 15, you might be feeling some pressure. The penalties and interest have already started accruing, but there are still ways to lessen the blow. Experts recommend that taxpayers file their returns as soon as they can, even if they can’t pay the entire amount owed. Paying whatever […]
Summary: IRS reports average tax refund is nearly $3,500 this year
Tax Refunds and Recent Events This year’s tax refunds are on the rise, though they haven’t reached the levels anticipated by the Trump administration, according to the IRS chief during a Senate hearing. While he’s addressing unpaid taxes, the focus is also on the current tax season. As the deadline for filing taxes approaches, the […]
Tax extension from the IRS does not postpone your payment deadline of April 15.
Every year, about 20 million Americans apply for a tax extension, yet many might not realize that any unpaid taxes are still due by April 15th. While the extension lets taxpayers file their returns until October, it doesn’t push back their responsibility to settle taxes owed. If the payments aren’t made by the deadline, penalties […]
IRS releases list of jobs eligible for ‘no tax on tips’ rule
New Tax Guidance for Tipped Workers Released by IRS The U.S. Treasury’s Internal Revenue Service (IRS) announced new guidance on Friday aimed at helping taxpayers who may benefit from a tax provision related to tips. This provision, part of the legislation dubbed the “Big and Beautiful Bill” signed by President Donald Trump in July, allows […]
IRS provides three options for requesting a tax extension ahead of the April 15 deadline
Tax Filing Deadline Approaches: What You Need to Know The deadline for filing 2025 tax returns is fast approaching—Wednesday, April 15th. Millions of taxpayers are gearing up to submit their returns, and likely, many will opt for an extension. If you find you need more time, it’s possible to request an extension before April 15 […]
Using AI for your taxes: A dangerous shortcut that may get you in trouble with the IRS
Utilizing AI for tax preparation might appear to be a clever shortcut, but it brings potential risks. With the tax deadline looming on April 15, many Americans are exploring ways to mitigate the stress of tax season, and some leaders in the AI field are promoting their tools as useful options. AI chatbots, like ChatGPT […]
Tax season 2026: why millions of Americans are facing unexpected IRS bills instead of refunds
April isn’t typically a month people expect financial surprises, but millions of Americans are facing unexpected tax bills this year. Instead of the refunds they hoped would help with holiday debts or summer plans, they’re looking at bills that could make anyone want to toss their laptop. The reasoning behind this predicament is rather straightforward. […]
Trump administration ends IRS Direct File, taxpayers will need to look for other free choices.
Tax Preparation Costs and Available Resources The IRS Taxpayer Advocate Office reports that Americans typically spend around $240 annually on tax preparation and filing. It’s a complicated process, and surprisingly, about 1 million eligible taxpayers miss out on claiming refunds, resulting in the U.S. Treasury keeping over $1 billion of their money. Luckily, many taxpayers […]
Congress alerts taxpayers about IRS fraud schemes before the April 15 deadline
Warnings About Tax Season Scams Bipartisan leaders from Congress’ Joint Economic Committee are raising concerns about scams related to the upcoming tax season. As the deadline for filing approaches, these fraudsters are increasingly targeting unsuspecting taxpayers. Taxpayers have until April 15 to submit their 2025 tax returns or seek an extension, and it’s likely that […]