By Gene Marks – Originally appeared in The Guardian
It’s not just people who received tips and overtime that have new tax benefits.
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.