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Survey: Americans Prefer Tax Refunds To Bigger Paychecks

Friday, January 31, 2014 - 8:17 AM
"Tax time is approaching, and with it you can expect the return of a perennial piece of tax advice: It is better to minimize your weekly tax withholding than to receive a refund because it allows you to put your money to work faster. According to a new survey though, most people defy that particular piece of advice -- and there might be a method to that majority's madness."

Americans Favor Tax Refunds Over Bigger Paychecks
ShorebreakShorebreak2,696 posts since
Apr 6, 2010
Rep Points: 14,620
1. Friday, January 31, 2014 - 9:27 AM
This would be me. I hate bills and have had a refund for the 56 years I have filed income tax.
I hate bills so much that I even pay my newspaper once a year. But I was a paper girl at 8-9 years old and remember collecting every Sat especially in the winters when it was 5-10 degrees outside. 
Ally6770Ally6770942 posts since
Jan 16, 2010
Rep Points: 2,741
2. Friday, January 31, 2014 - 10:54 AM
People need to do what is best for their lives and makes things easier for them.  I pay our Estimated Taxes each year in one lump sum and make sure I give them 100% of what the previous year's tax was so that I don't end up paying a penalty.  I am quite aware that the lump sum could be left in a savings account at .01% and earn us a few pennies but peace of  mine is worth more to me these days than saving the pitiful amount I could by paying those aggravating quarterly payments.  When I mail our taxes in February, I want it all behind me for another year and that includes any and all Estimated taxes, Federal and State.  I have already finished everything for 2013 and that gives me great peace of mine so I can concentrate on other responsibilities.
paoli2paoli21,406 posts since
Aug 10, 2011
Rep Points: 6,152