I never understood it either.
Possibly because once you give it to Uncle Sam, no matter how badly you need it back, you can’t get it ‘til tax time but with a savings account you can.
The only time we ever got a huge refund was in 2011 when we adopted two children. That was in May of that year and I never gave the tax implications a thought, until income tax filing time. Adding two dependents made a huge difference and we got (if I remember correctly) around $6500 back (No E.I.T.C. involved).
I’ve since adjusted withholding accordingly.
Good for you....adopting.
It must be very rewarding....and they are 2 lucky kids IMHO.
:-)
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