If you're thinking about filing your taxes early, you're not alone. The first date you can send in your tax return is coming up next week, and with holiday bills to pay off, more people than ever will be jumping on it. If you file next week, you can expect your refund in early February.
With all of the tax law changes we've been waiting to see how that impacts refunds this year, and out of the 53 million refunds issued so far, the IRS says the average refund is a few dollars higher than last year. What people are spending refunds on may surprise you.
Last week, the Internal Revenue Service announced that it had targeted about 400 identity thieves across the country. The thieves were using stolen Social Security numbers to file false tax returns and then claim the refunds.
If you’re one of those impatient people who gets a refund anticipation loan (RAL) from a tax preparer, enjoy it while it lasts — after this year, those loans are going away. And it’s probably for your own good.