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The Economic Times

Top News / The Economic Times

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New tax breaks, smaller refunds? Why some filers arent seeing more money

New tax breaks in 2025 are not giving bigger refunds to everyone. Income limits reduce benefits for overtime, tips, seniors, and car loan interest. Many taxpayers qualify but only get partial deductions. Higher total income, including investments or retirement withdrawals, can shrink refunds. Experts say deductions phase out gradually, so some filers see smaller savings even after new tax rules.

8 Apr 2026 9:49 pm