A-Tisket, A-Taxet

Uncle Sam’s Pockets

A-Tisket, A-Taxet

What’s going on: If you listen closely, you can hear a collective sigh of relief from Americans (or their accountants) who just survived tax season. Whether you spent months on your return — or frantically shuffled papers for that one last annoying document days ago — no judgment. (And if you didn’t hit the deadline, here’s how to file an extension.) So, how golden is your payoff? Many Americans are seeing larger refunds this year, according to The Washington Post. The average refund is about $3,462, up 11% from last year, according to IRS data through April 3. Sounds solid, until you learn that’s only a $300 jump, according to Axios, and much lower than the $600 to $700 many expected.  

That’s not nothing: But it’s not exactly “book the flight” money either. And for a lot of people, their refund is already spoken for. One survey found 70% of families plan to use it on rent and other basics — which, honestly, tracks in this economy. Even people who weren’t counting on a bigger refund thought they might at least owe less, which isn’t happening for everyone. Why? It’s by design. The tax break focused on lowering what people owed throughout the year, rather than delivering a large payoff after filing, according to The New York Times. That makes the tax break a tougher sell — even as President Donald Trump and Republicans frame it as a win ahead of the midterms. And it may not land: Some studies show taxpayers credit the extra cash to whoever helped them file, not the lawmakers. Thanks, Sanford (yes, that’s his real name). 

Related: Democrats Have a Massive Tax Break Plan for Working Parents — But There’s a Catch (CNBC)

The News in 6

🗞️ The Pentagon will send thousands more troops to the Middle East (where there are already 50,000) — a move the Trump admin hopes will pressure Iran in the coming days. 

🗞️ Vice President JD Vance’s reaction to anti-war hecklers at a Turning Point USA event is not what we would’ve expected. 

🗞️ President Donald Trump once again threatened to fire Fed Chair Jerome Powell. Old habits die hard.

🗞️ Democrats introduced at least five articles of impeachment against Defense Secretary Pete Hegseth, Axios reports. As for whether they’ll pass Congress...

🗞️ An influencer died while on a safari in Zanzibar just days after her engagement. Her family says everything seems suspicious. 

🗞️ If you’ve been loyal to Trader Joe’s since 2019, you might get a payout… because of a $7.4 million lawsuit settlement.

Money

The Wolf of… First Period? 

What's going on: Forget mowing the neighbor’s lawn: Today’s teens are making bands on the stock market. Charles Schwab is helping high schoolers get in on the action, rolling out trading accounts for kids ages 13 to 17. (Fidelity launched a similar program in 2021.) These accounts give teens more control over their trades than the old-school custodial setup. There are still some guardrails, though: Parents can take a peek at any time, and teens cannot make high-risk trades. If they do strike gold, kids will learn that Uncle Sam always comes to collect, and it could impact how much college financial aid they qualify for. Charles Schwab told The Wall Street Journal, “With a teen account, the child really is in the driver’s seat.” And all we had was babysitting money...

Buy low, sell high: Gen Z is investing earlier than millennials and Gen X... and Gen Alpha could start even sooner. Who can blame them with this job market? While some of us first learned about the stock market during the 2008 financial crisis, many kids are talking about money in the classroom — 39 states require personal finance classes in high schools. However, trading stocks comes with more than just financial risks. Some psychologists say it activates the same parts of the brain as gambling and that excessive or pathological trading should be considered an addiction. And thanks to sports betting, that addiction is already on the rise among young people, particularly boys and young men. While kids might have the training wheels on right now, what happens when they age out? 

Related: The Surprising Stocks Dropping As the Iran War Continues (CNBC)

Business

Texas Squeezes Lululemon

What’s going on: Texas Attorney General Ken Paxton just handed the athleisure status symbol of the 2010s a sour batch of Lululemons. He launched an official investigation into the company over its possible use of “forever chemicals,” or PFAS, in its clothing (please, not the Align leggings). Lululemon says it hasn’t used these chemicals for more than two years (should we be relieved?). Scientists are still sorting out the risks of PFAS, but studies link them to a range of health issues, including cancer, infertility, and low birth weights. Texas’ lawsuit is just one more setback in a long string of quality control problems, founder drama, and increasingly soft sales (yes, softer than “buttery soft”). Meanwhile, Paxton’s critics and Lululemon acolytes alike point out that Texas has bigger, local fish to fry — like, say, making sure pregnant people have access to potentially life-saving procedures. 

And if they're still in our closet?: If this news has you reconsidering your entire athleisure drawer (guilty), don’t panic. (Yes, we’re brave enough to say we still wear our old Wunder Unders, even if Alo is the current “it” brand and leggings in general are out). One expert told Good Housekeeping: “The greater risk of PFAS exposure comes from drinking water or food, rather than skin contact.” Repeated washes may have already reduced some of those chemicals — though that just means they’ve likely washed into wastewater, potentially affecting the environment. The company also said they were only used in a small portion of their water-repellent products anyway. So while you should make decisions based on your comfort level, it may not be worth it to run out and buy totally new gear. Either way, we bet the brand’s PR team will have a great time turning this one into Lululemonade… 

Related: We Did Not Expect This “Bizarre” Allbirds Pivot, But Maybe the Tech Bros Did (CNN)

Quick Hits

😎 Storing your family’s favorite tropical fruit next to a very adult drink could help keep it fresh longer. Everyone wins.

🫨 “Panic pouches”? For 2026? Actually groundbreaking. 

🥖 One writer spent months reporting on the most important story of our time: finding the best free restaurant bread in all of America. As in life, it was all about the (intense, starchy, magnificent) journey.

🧅 The latest FoodTok trend will force you to change how you see your vegetables. We promise.

🥲 Joey and Pacey had the sweetest red carpet reunion. They’ll always have that summer on the sailboat.

👖 Sydney Sweeney is back with another denim ad. Because the last one went so well…

On Our Calendar

Things to jot down today…

🗓️ On World Leisure Day, use your downtime wisely.

🗓️ Season two of Beef drops on Netflix, with a new cast — Carey Mulligan, Oscar Isaac — and a storyline with a different kind of rage.

🗓️ It’s National Wear Your Pajamas to Work Day. Don’t WFH? Try one of these.

Psst…For more dates worth knowing this week, check out the Skimm+ calendar.

Skimm'd by: Rashaan Ayesh, Erika W. Smith, Mallory Simon, Molly Longman, Maria del Carmen Corpus, and Marina Carver. Fact-checked by Sara Tardiff.