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Tax Refunds

All articles tagged with #tax refunds

Treasury begins mailing $500 ACA refunds to 950,000 Americans in 30 states
politics9 days ago

Treasury begins mailing $500 ACA refunds to 950,000 Americans in 30 states

The Trump administration began mailing $500 refund checks to over 950,000 Americans in 30 states on Wednesday, October 1, 2026. The payments target individuals who paid full premiums without subsidies and use the federal HealthCare.gov exchange. Officials claim the refunds return surplus user fees collected during the Biden administration, while critics argue the amount is insufficient to offset rising healthcare costs ahead of the midterm elections.

via The Washington Post|
#affordable-care-act#elections#healthcare
Tax-Refund Boost to U.S. Spending May Fade, Goldman Warns
finance1 month ago

Tax-Refund Boost to U.S. Spending May Fade, Goldman Warns

Goldman Sachs economists say the strong consumer boost from tax refunds in Q2 may be short‑lived, projecting real consumer spending growth slow to about 1–1.5% in the second half as real cash flow stagnates, even as GDP rose 1.5% in Q2 and retailer demand showed broad strength. The bank notes Q2 sales gains were helped by refunds and signals from retailers will be tested in upcoming earnings from Home Depot, Lowe's, Walmart and Target.

via Yahoo Finance|
#consumer-spending#economic-growth#finance
COVID-era tax refunds: who qualifies and how much you might get
finance3 months ago

COVID-era tax refunds: who qualifies and how much you might get

A federal ruling could entitle certain taxpayers to refunds of penalties and interest charged during COVID-era deadline extensions. To claim, file a Form 843 by July 10, 2026; eligibility covers penalties or interest paid or owed during Jan. 20, 2020–July 10, 2023 (with possible extensions to 2019–2022). If approved, you may receive a refund or have your balance reduced; if denied you can protest or sue after six months. An online Form 843 option has been available since July 1, 2026, and you can also file a protective claim if needed.

via New York Post|
#covid-19#finance#form-843
Withholding tweak could boost your take-home pay, says Scott Bessent
finance5 months ago

Withholding tweak could boost your take-home pay, says Scott Bessent

Treasury-related remarks from Scott Bessent urge workers to review and adjust their tax withholding to automatically increase take-home pay on a weekly or monthly basis, leveraging the Working Families Tax Cuts. The White House notes an improving refunds season (avg refunds over $3,400) with millions claiming deductions like No Tax on Tips, No Tax on Overtime, and senior benefits. For those with extra cash, the piece recommends deploying it prudently: invest in broad-market index funds (e.g., S&P 500), use micro-investing apps like Acorns, explore real estate crowdfunding (Mogul), and park funds in high-yield cash accounts (Wealthfront) with strong APYs and FDIC protection to grow wealth over time.

via Yahoo Finance|
#finance#investing-spare-cash#take-home-pay
Oil shock could erase gains from bigger tax refunds, economists warn
economics6 months ago

Oil shock could erase gains from bigger tax refunds, economists warn

Stanford economists warn that higher oil and gasoline costs could largely offset the extra tax refunds Americans are set to receive this year. In a scenario where crude prices spike (with disruption to the Strait of Hormuz) but retreat later, U.S. households could spend about $740 more on gas this year, roughly canceling out the projected $360–$748 in additional refunds from last year’s tax changes. The result is a net drag on spending growth and inflation, with big variation by household — non-drivers and EV owners face less pain while long commuters face higher costs — making the outlook uncertain and tempering the hoped-for fiscal tailwind.

via Axios|
#economics#gasoline-prices#household-spending
Iran conflict could dampen tax-refund windfall as gas prices rise
economy7 months ago

Iran conflict could dampen tax-refund windfall as gas prices rise

Americans are receiving larger federal tax refunds this year (average about $3,742, roughly 10.6% higher than last year), which typically boosts spending. But the Iran conflict is driving up oil and gas prices, raising costs for commuting, groceries, and shipping, potentially lifting inflation and mortgage rates and limiting the discretionary boost from refunds.

via NBC News|
#consumer-spending#economy#gas-prices
Spring spark lifts used-vehicle prices ahead of peak selling season
business7 months ago

Spring spark lifts used-vehicle prices ahead of peak selling season

Cox Automotive's Manheim Used Vehicle Value Index rose 4% year over year in February to 212.3, signaling higher wholesale prices as dealers stock up for a robust spring market. Demand remains solid with higher sales conversions, aided by expected tax refunds, though the Iran conflict adds near-term risk. January's average used-vehicle listing price was $25,533, and Cox projects wholesale prices ending 2026 roughly 2% higher than December 2025.

via CNBC|
#business#cox-automotive#manheim-used-vehicle-value-index
Trump's Tax Cuts Spark Biggest Refund Boom in U.S. History
politics8 months ago

Trump's Tax Cuts Spark Biggest Refund Boom in U.S. History

The White House says President Trump’s Working Families Tax Cuts Act will trigger the largest-ever U.S. tax refund season, with average refunds rising by about $1,000 or more in 2026 and many filers seeing near $4,000 in total tax savings, backed by various outlets noting retroactive provisions and expanded refunds, including no tax on tips, overtime, or Social Security and other incentives.

via The White House (.gov)|
#irs#politics#tax-policy
November retail surge signals resilient US shoppers
business8 months ago

November retail surge signals resilient US shoppers

US retail sales rose 0.6% in November, beating economists’ expectations after October’s revised pullback, with gains broad across categories (specialty stores +1.9%, gas stations +1.4%, home improvement +1.3%). The core 'control group' increased 0.4%. After adjusting for inflation, sales were up 0.3% from September to November, underscoring consumer resilience into the holiday season and into 2026 as tax refunds and policy shifts are expected to support spending despite a softer labor market.

via CNN|
#business#consumer-spending#economy