Tax Day 2026 arrives

The average refund for early filers has climbed to $3,462, providing a significant boost to many households amid rising inflation.

Key provisions of the new law include the elimination of taxes on tips and overtime, as well as new deductions for seniors and the introduction of 'Trump Accounts' for children's savings.

Despite the higher refunds, some senior groups warn that cost-of-living adjustments may not be enough to keep pace with the economic impact of the Iran war.

Both political parties are using Tax Day to launch new campaign ads, with Democrats focusing on corporate accountability and Republicans touting their tax relief measures ahead of the midterms.