Why Getting a Tax Refund Check is NOT a Good Idea
(Black Voices) — The IRS reports that 75 percent of taxpayers get a tax refund check each year, and that the average income tax refund is currently about $3,100. Getting a refund check after a year of hard work often feels like a bonus, but isn’t a tax refund more like giving the government an interest-free loan?
The reason why you are getting a refund in the first place is because you ended up paying more taxes than you actually owed over the course of the year. That money could have been left in a high-interest savings account or put to some good use. Consider the following 8 reasons why getting a tax refund check is really not a good idea: