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What will you do with your tax return?

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Information about refunds associated with filing taxes. Status of a return is usually available within 24 hours after the IRS has received an e-filed return or 4 weeks after a paper return received by mail.

You may even receive a deduction on your state income tax return if you contribute to your own state’s savings plan. Pay off a 401k loan. increase the contributions you make to your employer’s 401(k) plan and use the tax refund to make ends meet while the additional contributions are reducing your pay.

We’re looking for someone to comment on how they will use their tax return – whether you’ll save or splurge it. Are you planning on putting yours towards your holiday, or going out for a nice meal? Or are you planning to pay off some debts (such as a home loan or credit card) or otherwise looking to invest it?

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What Will You Do With Your Tax Refund? For the first time in years, my husband and I don’t owe anything for federal taxes (we do owe state taxes, though, since I don’t pay those quarterly). The combination of me reducing my client load , along with some unexpected deductions, helped reduce our income – and our taxes.

It’s your money, just like your monthly paycheck. And the only difference is that it comes in one lump sum after you file your tax return, with US Treasury written across the top. Since it’s your money, here are some suggestions on what you can do with the refund to make it meaningful in your financial life.

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What will you do with your tax refund? More Americans plan to hold on to their tax refund or put it to work to reduce debt, according to the National Retail Federation’s annual survey.

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 · If you’re currently planning what to do with your refund if you receive one, consider some of the following ideas for creative ways to put your tax refund to good use. Speaking of planning, I sure hope you have a plan or will make one because the statistics around saving vs. spending tax refunds are grim: upwards of 70% of Americans spend.

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