Tax refunds aren't necessarily a good thing, but that check is still an opportunity to improve your financial standing.
div > div.group > p:first-child"> For many Americans, that annual check from Uncle Sam offers a rare opportunity to better their financial footing, and fewer adults these days want to blow it on an excursion or new iPhone.
Of those who expect to receive money back from the government, the majority of those polled plan to pay down debt, GoBankingRates found. Just about 1 in 10 said they would rather use their refund to invest, make a major purchase on a necessity or stash it in a savings account, GoBankingRates found, and only 7 percent said the money would be put toward retirement.This tax season marks the first time filers are submitting returns under the Tax Cuts and Jobs Act, which slashed individual income tax rates, doubled the standard deduction and eliminated personal exemptions.
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