The government probably took too much of your paycheck this year – here’s how to get it back

Thanks to the government shutdown, the IRS didn’t have time to update W-2 wage reporting forms to reflect changes in the tax code. Photograph: Michael Bocchieri/Getty Images

US taxpayers will have a “gigantic refund year in the first quarter” of 2026, the treasury secretary, Scott Bessent, recently said in an interview.

Given all the untruths that come out of the current administration, you wouldn’t be blamed if you don’t believe him. But you should. This year, there will be a significant amount of tax refunds. Why? Well, it’s not tariff cash. It’s because many people overpaid their taxes this year.