How are you spending your Tax Refund?

[CreditInspired]

I get a refund every year, and every year it goes directly to my outstanding IRS debt (installment agreement). The first time it happened, I was down in the dumps. Now, it makes me happy. I actually like seeing that the debt is decreasing that much quicker.

[Gmood1]

Wish I was getting one instead of paying! This tax season sucks!😂

The only positive was paying the bill with one of my CCs in order to meet a spend bonus.

[Kforce]

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We are a couple of many on the forum who pay the government unfortunately.

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You are doing it correctly.

Why overpay and let the government use free money all year.

I try to be close,  plus or minus a few hundred.

[CramEiko]

I'll be literally watching my investment grow.......... I'll be investing in a new tree for my back yard. I'm thinking Chinese Pistachio, Red Oak or Live Oak our maybe something with less leaf drop in fall for my pool if at all possible. My landscapers accidently removed a 20' tall Mulberry (wasn't all that attractive anyways) this week. Funny how money doesn't grow on trees but, they sure take money out of my wallet ok.....

Enjoy your overpayment to the GOVT this season.

[Anonymous]

Im doing something for my future and something for my kids to make memories and enjoy being little.... so, Savings toward my next rental property and a trip for my kiddos it is.

[wasCB14]

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@Stribe wrote:

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@Andypanda wrote:

If i want to loan the government money I will buy t-bills. I would rather owe the government money so until april 15 my money is invested and working for me.

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This is golden right here... I owe a few bones, but the due date, it's sitting in a HYA making me money.

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The estimated payment due date for Sept-Dec income was Jan 15: https://www.irs.gov/faqs/estimated-tax/individuals/individuals-2

If you owe enough additional tax, you may have pay interest.

Also keep in mind that TCJA has generally lowered withholdings...though in some cases, only slightly. Actual refunds may be correspondingly lower.

[Save-n-Invest]

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@simplynoir wrote:

The assumption is made someone is getting one in the first place.

My taxes increased under the JCTA. 

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[GApeachy]

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@Anonymous wrote:

I thought it would be interesting to see how people manage their tax refunds.

What did you do?

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Delay as loooong as possible....."High ho, high ho, off to prison I go.....

...In a new bracket, gonna get my hatchet and chop away as much as I can, for I know my check will never arrive again. (ahhhh, hahahahaha!)

[Anonymous]

I  know DW and I owe. The only question is how much.  I will send in one extra estimated payment in the next week or so then when we file our extension send another extra estmated than will be within a few thoousand dollars of what we owe. I am not happy.  I want to be tax exempt. lol

[GApeachy]

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@Anonymous wrote:

I  know DW and I owe. The only question is how much.  I will send in one extra estimated payment in the next week or so then when we file our extension send another extra estmated than will be within a few thoousand dollars of what we owe. I am not happy.  I want to be tax exempt. lol

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"Extension" is my middle name....got'em on speed dial (State and Federal)