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Story summary
- U.S. President Donald Trump and his administration foresee a 2026 tax refund season under the One Big Beautiful Bill Act.
- Refunds could reach $100 billion to $150 billion, averaging $1,000 to $2,000 per household.
- The standard deduction rises to $15,750 for single filers and $31,500 for married couples, and the SALT cap reaches $40,000.
- Tax professionals warn refunds depend on individual situations, and higher earners may have less favorable outcomes.
