Experts say small tax refunds are a good thing, but a look at how Americans spend the cash explains why they don't feel the same
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Filed under: Finance, Tax, Taxes
- Tax Day 2019, the last day to file your 2018 tax return, is Monday, April 15.
- In February, early filers were seeing smaller tax refunds than last year, but by the fourth week of filing season refund amounts have caught up, and even surpassed, 2018 figures.
- Americans rely heavily on tax refunds as a way to reset their finances and force savings, experts say.
- A new JPMorgan Chase Institute report found that refunds often fuel a family's spending for months.
As much as Americans loathe filing taxes, we love — nay, we depend on — a sizable tax refund.
How Americans spend their tax refunds show why they're so important
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- When it makes sense to pay your taxes with a credit card — and when it doesn't