Treasury Secretary Scott Bessent Advises Americans to Adjust Tax Withholding
U.S. Treasury Secretary Scott Bessent urged workers who receive large tax refunds to adjust their withholding so they can keep more of their money throughout the year instead of giving it as an interest-free loan to the government. The advice comes amid unusually high average tax refunds, partly due to delayed updates in IRS withholding tables following new deductions introduced by the One Big Beautiful Bill Act.
Topics: tax policy Treasury Department withholding adjustments