Are you an early filer? If so, odds are you're getting a refund
byFeb 8th 2010 8:00AM
TurboTax ran the numbers for tax returns filed before February 23 and found that 82% of returns filed by this date receive a refund -- and that average refund is just shy of $3,000. Of these early filers, almost half (46%) use some of their tax return to pay off debt, a smart decision with any large sum of money you receive.
That's not the only information TurboTax was able to compile about your average early filer. Using IRS data along with its own survey results, TurboTax put together the infographic below to paint a better picture of who files early.
Even if you don't file early there's a benefit to doing your taxes at the same time as early filers. "I wait till the last minute since we always owe them something. I complete them early but wait to send them." Tammy Cox of Bremerton, WA told WalletPop via Twitter.
I used to be an early filer, but last year and this year, it looks like I will owe instead of collecting a refund, so I'll be following Tammy's advice so that I can take advantage of the interest free loan from the Government and save up the extra cash that I will owe this year.