Every year around this time, people tend to engage in bragging contests about how big their tax refunds are. These folks are oblivious to the fact that savvier planning would have let them keep their money rather than giving it to the government in a tax-free loan. [More]
tax refunds
Anxious To Get Your Tax Refund? IRS Says 'Go Get Another Job'
By 2.24.12
Emily is a law student, and she spent last summer doing lawyer-type work and earning lawyer-type money. She mistakenly set up her withholding as if she were earning that much money year-round, though, so the government owes her a pretty sweet refund now that she’s returned to the poor, ascetic life of a student. She even filed her taxes super early so she can get that money back. Only the IRS has flagged her for extra-special review, delaying her refund, and no one she can get in touch with seems to care. “You should just get another job,” one helpful representative told her. [More]
South Carolina To Provide Tax Refunds On Bank Of America Debit Card
By 2.23.12
This tax season, South Carolina taxpayers will have three options for getting their tax refunds: direct deposit, paper check, or a prepaid debit card from Bank of America. While this last option might seem like a good idea to some, they could be paying for the convenience. [More]
3 Things You Can Do To Make Sure You Get Your Tax Refund Quickly
By 1.6.12
The news that you get two extra days to file your tax return this year means little to those who have big refunds coming and want to get their hands on their money as soon as possible. [More]
IRS Is Stuck With $153.3 Million It Wants To Give Away
By 12.12.11
The Internal Revenue Service has $153.3 million in tax refunds burning a hole in its pocket, but can’t find any takers. The agency says mailing address errors have rendered 99,123 refund checks undeliverable. [More]
"Secret" Way To Keep Buying Paper Savings Bonds After 2012 Deadline
By 7.19.11
The Treasury announced last week that, in order to save money, they’re going to stop selling paper saving bonds after Jan 2012. Gone will be the days when a grandparent could walk down to the bank and sock away $50 every year to make an ironclad investment for their grandchildren. But there is a bit of a “backdoor” way you can still buy them without having to go through their weird online “gift box.” It will also let you buy more bonds than the $5,000 limit. What you do is use your tax refund to buy them through the IRS using form 8888. [More]
Texas Man Loses 78% Of Tax Refund After Winning Free Donut Coupons At Houston Astros Game
By 4.19.11
Just about everyone likes winning stuff — especially free food and definitely free donuts. But a man in Texas claims that the stack of free donut coupons he scored as a prize at a Houston Astros game caused his federal tax refund to disappear almost as quickly as that team’s hopes of making the World Series. [More]
Check Your "Tax Receipt" To See Where Your Money Is Going
By 4.15.11
Here’s one receipt you might want to have checked… Even though today isn’t offically “Tax Day” (that’s been moved to April 18 this year), the White House has gotten into the spirit with its online “Federal Tax Receipt” calculator that intends to show you where your tax money is being spent. [More]
Prepaid Debit Cards Rack Up Fees As Soon As You Even Think About Getting One
By 3.27.11
Using TurboTax to file his taxes last month, Sam chose an interesting new option for his refund: a TurboTax-branded Greendot prepaid debit card. He doesn’t have a bank account at the moment, and wasn’t receiving a huge refund, so this seemed like a good option. He tried to use up the card soon after receiving it in order to avoid the monthly “maintenance fees” that come with prepaid debit cards. What he didn’t know was his account really began on the day that he requested it online, so he was paying monthly fees when he had the card for barely a week. [More]
Survey: More Americans Will Blow Their Tax Refunds This Year
By 2.23.11
A retail trade industry survey finds more Americans plan to put the “fun” in “tax refund” this year. [More]
What Are You Going To Use Your Tax Refund For This Year? 28% Say "To Pay Off Debt"
By 4.24.09
The comparison shopping website PriceGrabber.com just completed its “what are you going to do with your tax refund?” survey for the second year in a row, and not surprisingly there are some notable differences between last April and now. The biggest change is among those who plan to spend the money: it was 44.0% in 2008, but only 29.2% this year.
