December 12, 2025
Tax Refunds Up To $2K Could Be On The Way
Only time will tell if the money is coming.
Americans could receive large federal tax refunds early next year because of recent tax law changes.
Treasury Secretary Scott Bessent said that some households will receive up to $2,000. Bessent because of tax cuts included in the federal One Big Beautiful Bill Act, a sprawling tax and spending law enacted in July.
“I think we’re going to see $100-$150 billion of refunds, which could be between $1,000, $2,000 per household,” when asked about refund expectations in an interview with NBC.
As many working Americans have not changed their federal tax withholding rates since the law took effect, they have likely paid more taxes than required. That, he said, should lead to “very large refunds” early in 2026 when taxpayers file their 2025 returns.
The secretary said after refunds are issued, taxpayers are expected to adjust withholding so “less tax is taken from each paycheck,” a step Bessent said will lead to what he described as a “real increase” in take-home pay.
White House National Economic Council Director Kevin Hassett made similar remarks earlier this week.
“We’re going into next year, where the typical person who’s got no tax on tips, no tax on overtime, is probably going to see an extra $1,600 to $2,000. A lot of that will come as tax refunds at the beginning of the year,” Hassett said.
The One Big Beautiful Bill Act includes hundreds of provisions affecting tax rates, deductions, and credits for individuals and businesses, and was signed into law by President Donald Trump on July 4.
Bessent did not provide a specific date for when refunds would be issued, but indicated most would arrive during the first quarter of tax filing season.
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