The purpose of the Tariff Refund Act of 2026 is to provide financial relief to eligible individuals by allowing them to treat certain amounts of tariff revenue as an overpayment of tax. This aims to help taxpayers who may have been financially impacted by tariffs, effectively giving them a rebate on their taxes. Key provisions of the Act include specific amounts that eligible individuals can claim as a tax overpayment. For those filing jointly, the rebate is set at ,700; for heads of households, it is ,275; and for other individuals, it is $850. To qualify, individuals must be U.S.