Bigger Tax Refunds Coming? New Law Could Mean Windfall

Get Ready for a Tax Refund Windfall! New Republican tax provisions could mean significantly larger refunds in 2025, potentially totaling $50 billion in taxpayer savings. Signed into law in July, the changes include eliminating taxes on some overtime and tipped income and raising the SALT deduction cap. But, because the IRS hasn't updated withholding tables, many are overpaying now, setting up a surprise next year. Higher-income households and seniors stand to benefit the most.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.