How Not to be a Financial Fool With Your Refund

Long ago, before we were a nation of debt, nobody cared about their IRS Tax Refund Status.  They did their taxes and if a refund check came in the mail then well that’s nice but they knew it was their money all along anyway.  Now, we are a nation of financial fools.  This sounds extreme but how else to describe the phenomenon of taxpayers believing that their tax refund is a gift from the IRS?  How else to describe the notion that people think a huge IRS refund is a great thing.  They clearly don’t understand where the refund comes from (their own pockets).  They just want to know the IRS Tax Refund Status so they can pay their bills or buy something.  Yes, we are now a nation of financial fools.

Do You REALLY Need a Tax Professional?

You can tell by the tax company ads that start running a few weeks after the new year.  These ads lead people to believe that they need a professional to prepare their taxes for them…WRONG!  Software and online tax services make so EASY to do your own taxes.  You will save an average of $75, which is the average starting price to prepare the simplest version of the IRS Form 1040.  If your tax return requires additional forms and schedules, the price goes up from there.  Why in the world would you NOT try doing your own taxes to save money?

Is This You?

Or are the tax companies who charge to prepare the simplest tax forms relying on the same financial foolhardiness that also makes people spend their tax refunds before they get them?  Is it the same group of taxpayers…they think the refund is a gift, they pre-spend it so they are desperate to get their refunds, and they pay to have their simple tax forms filled out for them.  Yes folks we have another case of savvy marketing, profiting off other peoples’ ignorance, and lame duck taxpayers not bothering to see beyond the hype and try preparing their own taxes.

Are You Desperate About Your IRS Tax Refund Status?

Don’t fall into this trap.  If you are desperate about your IRS Tax Refund Status, that’s the first clue that something is amiss.  Learn some personal finance basics and save yourself a whole bunch of money and aggravation for years to come.