President Donald Trump has repeatedly promised that Americans will get larger tax refunds this year thanks to his “big, beautiful bill.”
But now his war with Iran – and the resulting spike in gas prices – could wipe out a sizeable slice of that windfall for many folks, depending on how long the conflict in the Middle East lasts.
To be sure, many taxpayers are enjoying heftier refunds this year thanks to the sweeping tax cuts included in Trump’s domestic agenda package, including a larger standard deduction, the elimination of taxes on tips and overtime and an enhanced deduction for senior citizens.
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