Posts Tagged tax returns
According to the National Retail Federation’s 2011 Tax Returns Consumer Intentions and Actions Survey, many Americans are now keen to use their tax refunds to treat themselves or their families to a major purchase. 13.2% of Americans will spend their refund on a big ticket item, such as a new television or furniture up from 12.5% last year.
But with the economy also serving as a reminder that it’s best to be financially prepared for the worst, 42.1% of people will put their refunds away for a rainy day vs. 40.3% in 2010. 66.2% of tax payers are expecting a refund this year, up from 65.5% last year.
Matthew Shay, NRF President and CEO, says “Despite the difficult unemployment situation… Americans receiving a tax refund this year seem eager to plough this money back into the economy… NRF is becoming more bullish about the economic recovery.”