It's next time and a lot of people are getting refunds. That's a good thing, although it can be a bad thing. What should you do with the money? First off, I highly recommend that you put some aside for emergencies. The minimum recommendation I would give people is three to five thousand dollars. So, if you had a pretty good refund, you might want to consider doing something like that. Another thing is, if you have high interest rate credit card debt that you're trying to pay off, you might want to use some of that money to pay that as well. A lot of people think, "Wow, this is like Christmas, I get to spend the money." But really, if you stop and think about it, if you're getting a big refund, you're loaning the government money interest-free because they don't pay you interest on the money that you're loaning them. So, I recommend that you not have big refunds. Try to get it as close to zero as possible. Even if you owe a little bit, it's not that bad of a situation. The IRS is not that aggressive in collecting their money and they don't charge you a lot of interest to pay it back. Making your tax refund less involves going into your employer, getting a W-4 form, filling it out, and then having your withholding based off of your income. And if you have a significant other, their income as well. There's an easy way to do that, and if you have a problem with it, you can just go to the IRS website or contact consumer credit counseling service. They will be happy to go over that with you and fill out the form properly, so you don't get big refunds anymore. And remember, you'll...
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Video instructions and help with filling out and completing Who Form 944 Pr Refund
