Millions Tap Trump Tax Cuts This Filing Season as Refunds Top $3,400
Over 53 million tax filers claimed Trump's signature tax cuts this season, with the average refund climbing above $3,400, Treasury Department data shows.
TL;DR
- Over 53 million tax filers used at least one of President Trump's tax breaks.
- The average tax refund climbed above $3,400.
- About 25 million filers claimed a deduction for overtime pay.
- Roughly 6 million claimed a tax break on tips.
- An estimated 30 million seniors took advantage of an enhanced deduction.
- Approximately 34 million families claimed an expanded child tax credit.
- Over 105 million filers used the expanded standard deduction.
- More than 5 million "Trump Accounts" have been opened.