Money Minute: Tax refunds aren't necessarily a good thing
PITTSBURGH (KDKA) — Tax day is April 18, so you have 11 days left to file.
But what if you've already filed and are waiting on your refund, KDKA-TV money editor Jon Delano explains why tax refunds aren't necessarily a good thing in this week's Money Minute
Are you getting a tax refund this year? If you are, you're probably thinking that's good news. While it's always better for the government to owe you money than the other way around, if you get a tax refund, you've got a problem.
You are paying the government more, right now and every week out of your paycheck, than you should be. And why should the government get your money, keep it, make money with it, and then give you your money back — minus the investment — next year?
If your tax refund is more than, say, $500, consider correcting the tax withholding that your employer does to your paycheck. Fill out an IRS form to do this. Your human resources department can help.
You should be using this money or investing it yourself instead of giving the government something that is not theirs.