Tips for Acquiring the Biggest Tax Refund

tips for acquiring the biggest tax refund

Tax time is creeping up on us once again and folks are thinking about their refunds. Similarly, you may feel that last year’s refund was too low or maybe that it was right on target. According to the IRS, about 75 percent of taxpayers received a tax refund close to $2,800 last tax season. If you’re hoping to maximize your refund this year and get the largest one possible, here are some tips for acquiring the biggest tax refund.

Tips for Acquiring the Biggest Tax Refund

Be sure to get your hands on the most money possible this tax season! Take these tips to heart and get all the dollars back that you can!

1) Check Your Filing Status

This is one of the biggest tips for acquiring the biggest tax refund. A smaller refund or finding out you owe money can seem like a huge surprise during tax season. . . . → Read More: Tips for Acquiring the Biggest Tax Refund

What Will You Do with Your Tax Refund?

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According to Bankrate.com, there were 82.8 million tax returns filed in 2012 that utilized the IRS’ direct deposit option for $247.2 billion in refunds. With the average refund hovering right around $2,985 last year, it’s clear that some careful planning is in order if you’re expecting to receive (or have already received) your own tax refund this year.

In years past, I’ve always advocated a mix of saving your refund money, paying down debt and investing in a bit of personal enrichment. This year is nothing different, but the totals are heavily skewed as I decided to put around $1,2000 of my $1,800 tax return towards the purchase of a new laptop (in case anyone is wondering, I mostly receive a refund solely because of the property taxes and mortgage interest I pay. If it wasn’t for these two factors, I’d most likely owe the IRS money as I . . . → Read More: What Will You Do with Your Tax Refund?