Changes to tax laws and regulations can significantly impact the size of tax refunds. In 2023, the Inflation Reduction Act introduced several modifications to tax credits and deductions, potentially affecting the amount of refunds taxpayers receive. Given these changes, many individuals are curious about the potential impact on their 2025 tax returns. However, it’s important to note that the size of tax refunds can vary based on several factors, making it difficult to predict the exact amount of refunds in 2025.
Some of the key factors that influence the size of tax refunds include:
