The U.S. Department of the Treasury announced on March 10 that almost 45 percent of tax returns filed so far this season have claimed at least one of President Trump’s new Working Families Tax Cuts, with millions of American households seeing larger refunds and increased take-home pay.
The announcement highlights the impact of the recent tax legislation, which aims to provide relief to middle- and low-income taxpayers. The Treasury said these measures are designed to increase after-tax income for families, workers, and small business owners.
"Halfway through this filing season, the Working Families Tax Cuts are already delivering meaningful relief to middle- and low-income taxpayers, increasing after-tax income and putting more money back into the pockets of American families, workers, and small business owners," said Treasury Secretary Scott Bessent. "Treasury and the IRS have worked tirelessly to ensure that relief was delivered efficiently, securely, and on time. This filing season reflects our commitment to making the tax system work for working families. Because of the landmark legislation signed into law by President Trump, millions of Americans are keeping more of what they earn and seeing their paychecks go further than ever before."
As of March 8, nearly 63.5 million tax returns had been processed—representing about 45 percent of all expected filings by April 15—with an average refund exceeding $3,700. Of those returns processed so far, over 27.5 million claimed at least one provision from President Trump’s new tax cuts on Schedule 1-A.
Specific provisions include No Tax on Tips (claimed by over 3.5 million returns), No Tax on Overtime (over 15.5 million), Enhanced Deduction for Seniors (over 9.2 million), and No Tax on Car Loan Interest (over 690,000). Additionally, nearly 3.5 million Trump Accounts have been opened; more than 800,000 qualify for a $1,000 pilot program.
The Treasury expects these trends to continue as more Americans file their taxes ahead of the April deadline.
