Tax Return Spending


As of February the IRS saw 15% more refunds issued this year compared to 2013.

Once filing your taxes is over comes the payoff of your tax return.

Some people who filed early are already spending.

A new T.D. Ameritrade survey shows 61% of Americans will keep their refunds in pocket by saving them.

21% of taxpayers plan to pay off debt, 18% will spend the money on necessities and 19% will make unnecessary purchases.

Odyssey Travel Owner Carmen Valley says many people reserve their refunds for much needed getaways.

"A lot of people will designate that amount of money each year for their family vacations so we do a lot of Disney vacations, all inclusive Caribbean vacations, some honeymooners will use their tax return toward a payment on a honeymoon," Valley said.

April 15th is the deadline to file your taxes.


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