Today, in addition to be the deadline for filing Federal and State tax returns it is also Tax Freedom Day. Tax Freedom Day is the day that average Americans have earned enough to pay their tax burden for this year (107 days). It is 4 days later than it was last year.
Many people have the thrill of getting a large tax refund. It is important to remember this was your money, you were loaning to the government interest free. If you regularly receive a tax refund and struggle with your bills most months, it is recommended to check your withdrawal allowances. If you change this, you may be able to receive more money in your paychecks.
If you do receive a tax refund, consider paying off debt or putting into savings instead of purchasing items you could not normally afford. Some people suggest using 5% or so of it to buy something for yourself and put the rest away.
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