Is a Tax Refund the Boon You Think It Is?

Posted 11/7/19

(StatePoint) A tax refund may sound like a boon, but financial experts say that you may be able to make more over the course of the year by checking your withholdings and putting any additional funds …

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Is a Tax Refund the Boon You Think It Is?

Posted
(StatePoint) A tax refund may sound like a boon, but financial experts say that you may be able to make more over the course of the year by checking your withholdings and putting any additional funds into a savings account over the course of the year.Click Here to Enlarge Infographic.Those who received the average refund in 2018, could see an additional $282 in interest compounding over three years simply by putting the monthly sum into a savings account earning 2.20 percent all year long.Though changing your tax withholdings is easy, three in four workers failed to adjust their withholdings this past year, according to a recent Civic Science survey for Ally Bank, Member FDIC.

*****Is a Tax Refund the Boon You Think It Is?


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