Just in: 2026 tax season could deliver record-breaking refunds to American households, according to recent policy announcements. This massive cash injection might reshape consumer spending patterns and market liquidity in unexpected ways. When millions of people suddenly have extra capital in their accounts, some of that money inevitably flows into risk assets. We've seen this pattern before during stimulus checks era. The timing is interesting too—landing right when crypto markets are finding their footing after volatility. Will retail investors treat these refunds as "house money" for speculative plays? Or has the 2022 bear market taught people to stay cautious? Either way, the sheer scale of these refunds means economists and traders alike should be watching closely.