India, Feb. 13 -- President Donald Trump and House Speaker Mike Johnson have called the 2025 tax year refunds "historic" and predicted that they will be significantly substantial for millions of people.

According to Internal Revenue Service (IRS) data, the average refund for this filing season will be approximately $4,000 this year, up from $3,167 in 2025, Johnson revealed last month.

Millions of Americans are expecting large tax refunds this year due to new legislation and large deductions. However, not everyone might see a big payout from the IRS.

Large tax refunds are always preferable, but they are never free.

In essence, refunds are the government giving back the money that Americans made over the year from interest-free loans. ...