Tax Rebates & Refunds

Research reveals how U.S. tax rebate recipients will spend their refunds

March 5, 2013
Posted in Tax Rebates — Written by Chris

New research carried out by Deal News has revealed how the millions of America taxpayers who will receive a tax rebate this year will spend their refunds.

The research showed that around 76 per cent of all U.S. taxpayers will receive a tax rebate this year, with each person expecting to receive an average of $2,803

Upon receiving a tax rebate, the recipient must decide whether to save the money or spend it. Deal News’ researchers found that 34 per cent of U.S. rebate recipients will save their money, whilst 22 per cent are planning to spend it. A further 44 per cent will use their tax refund to pay off existing debts, which is just as smart a decision as saving the money.

When it came to spending tax rebates, it was found that:

• 44 per cent of tax rebate recipients will spend their money on electronics
• 30 per cent will spend their refund on travel and holidays
• 21 per cent are planning to spend their refund on homes and gardens
• 13 per cent will spend their refund on clothing and accessories
• 11 per cent will use the money for everyday expenses.

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