Wednesday, March 08, 2006

Tax refunds getting fatter...

Uncle Sam says that tax refunds are up almost 5% this year to $2,480 from $2,371 a year ago. They found that is the case with all of the refunds issued so far this year. A recent survey shows that fewer people will be using the refund on "big ticket" items this year, 7% down from 16% in 2003. More people said they will save and invest their money this year, 38% up from 31%. That's good news, I hope this the start of a new trend.

2 comments:

GEOMATRYX said...

I share the same feeling. May be we all should be more careful with withholdings - Why give interest free money to feds ?

John said...

Good point, I didn't think of it like that. I just recently adjusted my w-4 too....