That’s good news. Tax refunds are just interest-free loans to the government.
Interesting that the return volume is about 3 times less at this point than last year. Just another way this current government is sticking it to the public.
That’s what I keep telling my kids. “But everyone else is getting a big check from our benevolent father in Washington.”
Well, putting your money in a savings account is essentially an interest-free loan to your financial institution, so there is no longer any benefit from keeping it in your own bank rather than letting Uncle Sam hold it for you.
“Tax refunds are just interest-free loans to the government.”
Exactly gator, and ‘refund’ is a sneaky govt term too. It was your money the entire time and you never had to send it in at all and lose the use of it for months.
EXACTLY
Maybe people are finally not overpaying their taxes for 12 months & then waiting for it to return to them.
I used to get excited until I realized it was my money to begin with.
You could look at it as bad news for some retail. Tax refund season for a lot of businesses is kind of like Christmases for a lot of others. This could be really bad news for the car industry, for example, which is already in a state of collapse.
Just thinking out loud.