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Story summary
- The U.S. Treasury Department projects tax refunds will rise this year due to U.S. President Donald Trump’s Working Families Tax Cuts.
- Tax season opened January 26, 2025, with refunds averaging up to $1,000 per household.
- The enhanced child tax credit could boost refunds by $1,700 for families with children.
- The Internal Revenue Service (IRS) is phasing out paper checks and urges taxpayers to verify direct deposit information to avoid delays.
