National Economic Council Director Kevin Hassett predicted the largest-ever U.S. tax refund cycle in 2026 during televised interviews, including Fox Business and Fox News Sunday. Because withholding tables were not updated, officials say the IRS held more money and must return it.
Refunds are expected to increase between $300 and $1,000 following the enactment of the One Big Beautiful Bill Act in July 2025, according to Hassett.
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Officials are also weighing a $1,490 “tariff dividend” check, benefiting low- and middle-income households, Hassett said.
Republicans in the House and Senate have also proposed additional tax proposals, including a $1,776 “warrior dividend” bonus for service members.
