Posted byon April 9, 2013
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You may have often heard that it makes no sense to get a tax refund. On many personal finance sites people are berated as stupid (or worse) for getting money back from the IRS – after all it is a tax free loan to the government. Why would anyone want to do that? Are there any good reasons to get a tax refund? I think for some people there may be.
source: 401(K) 2013
I won’t argue that it makes sense to get a refund but the “cost” of doing so right now is relatively low as long as your refund isn’t subject to the refund delay. If getting a refund helps you save for a goal or lets you make a big payment to a debt (such as a credit card) that you wouldn’t ordinarily make then I think makes sense to consider it.
Are you getting a tax refund this year? Do you think getting a tax refund is a good thing or bad thing?