India, Dec. 26 -- As the new year kicks in, the tax filing season in the United States is set to kick off. And, the Internal Revenue Service (IRS) may have some good news for Americans filing taxes for the financial year 2025-26.

With the tax cuts under President Donald Trump's Big Beautiful Bill in effect for the ongoing financial year, American tax players could be in line for potentially bigger tax refunds this year. At least, that's what's interim US Treasury Department Secretary, Scott Bessent, hinted recently.

Bessent, 63, recently appeared on the All-In Podcast - a popular American business and tech podcast featuring four venture capitalists-Chamath Palihapitiya, Jason Calacanis, David Sacks, and David Friedberg. He revealed the ...