[TXBlair]

Exactly, I have the minimum withheld and then get back a minimal refund. I used to be so puzzled by (and jealous of! :)) my similarly-paid coworkers who got back large refunds. I finally stopped and thought about it...I’m bringing home far more per month than they are.

Yes, they are letting the government use their money interest-free.

[F. dAnconia]

...I used to be so puzzled by (and jealous of! :)) my similarly-paid coworkers who got back large refunds. I finally stopped and thought about it...I’m bringing home far more per month than they are...Yes, they are letting the government use their money interest-free.

Great point. It amazes me how the masses get so excited over getting their own money back. They treat it like it was free money. Only fools get back sizable refunds...unless it can't be avoided.

[metmom]

Yes, they are letting the government use their money interest-free.

Interest free? You mean like the .6% crappy interest the banks are paying?

Or the lousy 1% interest or so that CD's and Savings bonds are paying?

If you could get more than a dollar interest on savings accounts in one year, it might be something to worry about.

Some people actually use the income tax and large refund as a savings plan. I know it's not the best method, but it forces people to live within their means who might not necessarily save it if they brought it home.

If it works for them, that's their business.