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Trump's Tax Bill Boosts Deductions, Alters Refund Process

3/7/2026

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Trump's Tax Overhaul

The One Big Beautiful Bill Act, backed by U.S. President Donald Trump, increases standard deductions and adds new charitable-donation provisions.
Seniors will receive an additional $6,000 deduction.
No taxes on provisions for tips and overtime create complexities, with payroll taxes still applying.
The Internal Revenue Service (IRS) is phasing out paper checks, slowing refunds for some filers.
Experts urge reviewing past returns and preparing early for April 15 deadline.

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AI Tax Miscalculations

A study found AI chatbots miscalculated tax returns by over $2,000 on average, fueling concerns about tax prep.
A benchmarking test showed most AI models failed to reach 50% accuracy in tax calculations.
James Burnham, xAI's General Counsel, said Grok could boost tax refunds, but experts warn against relying.
Experts warn that sharing sensitive information with general-purpose chatbots increases risk.

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Trump's Tax Overhaul

The One Big Beautiful Bill Act, backed by U.S. President Donald Trump, increases standard deductions and adds new charitable-donation provisions.
Seniors will receive an additional $6,000 deduction.
No taxes on provisions for tips and overtime create complexities, with payroll taxes still applying.
The Internal Revenue Service (IRS) is phasing out paper checks, slowing refunds for some filers.
Experts urge reviewing past returns and preparing early for April 15 deadline.

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