How Americans are spending their tax refunds

What do you do with a record tax refund?

The Treasury Department said in a release on Tax Day that as of April 14, the average tax refund this filing season was more than $3,400, an increase of 11 percent from last year. 

Filers can check the status of their refund using the “Where’s My Refund” tool on either IRS.gov or the IRS2Go app. They must provide their Social Security number or taxpayer identification number, their filing status and the exact amount of their refund. 

Treasury also said that more than 53 million filers utilized at least one of the provisions offered under the One Big Beautiful Bill Act (OBBBA), which President Trump signed into law last July.

More than 25 million filers, for instance, deducted their overtime pay — averaging out to more than $3,100 per filer. Under the law, individuals can deduct up to $12,500 of the “half” portion of their “time-and-a-half” overtime........

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