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The Economic Times

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Tax season surprise: Whats causing smaller refunds for some Americans in 2026

Tax refunds in 2026 are not as big as many people expected. Average refunds increased only slightly, confusing taxpayers. Smaller refunds may happen due to withholding changes, credit limits, unpaid debts, and uneven tax benefits. Some workers already got tax relief in their monthly paychecks. Higher earners and overtime workers may still see larger refunds, while others may notice only small increases.

31 Mar 2026 8:50 pm