tax returns

Some Americans are getting a COVID tax refund — here’s who is eligible and how much they’ll get

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Some Americans are getting a COVID tax refund — here’s who is eligible and how much they’ll get

Eligible Americans may be in line for some extra cash, but time is running out to claim. The refunds stem from IRS penalties and interest that some taxpayers paid during the COVID-19 emergency after the IRS had postponed many tax deadlines. A recent federal court ruling — Kwong v. United States — found that the … Read more

Americans are spending their higher tax refunds on the basics versus luxury items: survey

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Americans are spending their higher tax refunds on the basics versus luxury items: survey

According to a new study, tax refunds are continuing to increase year-on-year — but half said they’ve had to spend it all on necessities just to get by. The poll of 2,000 U.S. taxpayers who have received their tax refund this year found the average person got $2,825 back, a healthy increase from $2,300 from … Read more