The days are getting longer and W-2s are blooming, which can only mean one thing – the U.S. tax season is here.
Many Americans may receive a bigger tax refund than in previous years as a result of changes under what has been dubbed “One Big Beautiful Bill Act,” a package of tax breaks and spending cuts that President Donald Trump signed into law on July 4, 2025.
The act renewed tax cuts originally put in place in 2017 that had been set to expire at the end of 2025. Had that happened, one estimate shows the average individual filer would have seen a US$2,955 increase to their tax bill starting in 2026.
