How Taxpayers Can Use Their Tax Refunds

How Taxpayers Can Use Their Tax Refunds

Spring is here, and that means millions of Americans are going to get their tax refund check in the mail pretty soon. For those fortunate enough to get a tax return — one thought that will probably come to their mind is “what am I going to spend the money on?”

Here are three things you might want to consider putting your tax return money towards:

Your Savings Account

A growing number of young Americans are beginning to see the value in having a robust savings account — they see it as a safety net just in case of a rainy day. If you get a tax refund of a couple thousand dollars, you might want to consider putting a few hundred away into your savings account.

Pay Off Your Credit Cards

Paying off an old credit card or paying down your current card(s) isn’t a bad idea either. According to Lexington Law, Americans owe a total of $1.027 trillion in credit card debt as of March 2018. That’s a lot of money, and there’s a good chance that your credit card debt makes up a small portion of that trillion-dollar overall debt.

Take A Vacation…

Whether you’re a twenty-one-year-old college student or a father with three kids — everyone needs to take a vacation every once in a while. So getting a nice little sum of money is the perfect means to pay for a vacation.

Whether you owe money to the IRS or you have a State tax debt, our staff of Enrolled Agents and Tax Professionals can help you! We have over 50 years of experience negotiating with the IRS in all 50 States. 

Call The Tax Defense Group today!