IRS: Record $5.6 Trillion Collected in Fiscal 2026, Refunds Up Over 20 Percent and Average Tax Rate Down to 12.6 Percent
The Internal Revenue Service (IRS) announced in Washington on October 29, in news release IR-2026-129, that it achieved record-setting performance for American taxpayers in fiscal year 2026. The IRS said that following passage of the Working Families Tax Cuts, it collected the highest tax revenue in history and delivered record-high refunds, to more people, and faster than ever before.
The IRS said it collected a record $5.6 trillion in taxes in fiscal year 2026, an increase of nearly 5 percent from the previous year, representing most of the revenue that supports the operations of the U.S. government. At the same time, the average tax rate paid by taxpayers declined for all income levels for returns filed in 2026. Based on individual income tax returns filed through mid-July, the overall average federal income tax rate fell to 12.6 percent, a decrease of 4 percent from 2025.
IRS Chief Executive Officer Frank J. Bisignano said: "Under the leadership of President Donald J. Trump, the IRS delivered to America's working families historic refunds due to the tax cuts enacted in the Working Families Tax Cuts, which represent the cornerstone of the administration's economic agenda. With our dedicated workforce, we delivered a successful tax filing season and continue to transform the IRS into a Digital-First agency that provides the best possible experience for taxpayers, improves collections, and safeguards privacy."
During the filing season, the total dollar amount of refunds claimed increased by 17 percent over last year and the average refund was up by 11 percent, with about 90 percent of filers who filed electronically receiving refunds in less than 21 days. The total amount of refunds dispersed to Americans increased by over 20 percent from 2025 to 2026.
On taxpayer service, IRS.gov recorded more than 954 million visits and taxpayers conducted nearly 469 million Where's My Refund status checks. Individual Online Account users reached approximately 37.6 million, a 34 percent increase from the prior year, with 224 million account logins. Payments made through IRS Online Accounts increased 57 percent to more than $133.6 billion. Tax Professional Account users increased 57 percent to 513,000, while payments through the Business Tax Account surged nearly 250 percent to $726.6 million.
The IRS also launched a new mobile app; during the first five days after launch, over 140,000 customers downloaded it, with over two-thirds choosing the new personalized experience using authentication. This filing season, 12 percent more refunds were issued via direct deposit compared to last year.
On protecting taxpayer dollars, the IRS protected approximately $38 billion in tax revenue from identity theft refund fraud in fiscal year 2026, working through the Security Summit partnership with state tax agencies and private-sector companies. The agency also improved its fraud referral system, adding a Report Fraud button on the IRS.gov homepage and an online reporting option for suspected tax fraud, scams and evasion.
The release also described Trump Accounts, individual investment accounts for children under 18 created by the Working Families Tax Cuts. Nearly 70 million Trump Accounts are now open for all children, and 27 million have already received funds from families, friends, donors and the U.S. government, which is contributing $1,000 to each child born between January 1, 2025, and December 31, 2028. The IRS said it is actively promoting adoption of the accounts.
Source: GSM · USA (original Chinese edition)
Photo: 图：位于 Washington 的美国国税局（IRS）总部大楼。GSM联邦机构固定图库照片，公共领域。 / Photo: U.S. Internal Revenue Service headquarters building in Washington. GSM federal agency library photo, public domain.
