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Most people view tax refund money as a forced savings account

Most people get tax refunds.

Despite conventional wisdom and the continued advice of tax professionals, most apparently plan it that way.

I look at this decade-long trend in my latest Bankrate Taxes Blog post, Reasons for a refund glut.

Do you intentionally have too much in payroll taxes withheld so you'll get a big check from the IRS each year? I'd love to hear why, at both the Bankrate post and here.

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Tax Return

If you’ve got a new address, notify the U.S. Postal Service so your tax refunds or IRS correspondence will be forwarded to you. Postal Service will take care of passing your new address to IRS for updating.

Larry Kozky

I agree with Ben, no more interest free loans for the government. Most people do not understand that the money is yours, and if you get a refund you could be using it better by spreading it out in your paychecks and not having as much withheld. Don't give the government any more than you need to! You never know when you might have more money than you think.


People know themselves. If they then consciously choose to get the money later, then kudos. Many people don't save or invest their money, they spend it.

Interest rates are so miserable lately, it's not much of a loss anyway.

You could be going through changes and can't anticipate your actual withholding so you guess in a way that favors you rather ending up with a tax bill.

Lots of good reasons.

Ben Marino

I get into arguments with people all the time about this! Why anyone would choose to give the IRS an interest free loan is beyond me!

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