Why your tax refund may be bad for your wallet

This year marks the third tax season during which my boyfriend, Peter, and I have been together. (The most romantic means of measuring time, to be sure.) I’ve been working as a freelancer for several years, making my tax payments each quarter so that I have nothing to worry about come April 15th. I’ve long been used to the fact that I get to sit idly by while I see my friends and peers excitedly cash in their refund checks, or anxiously check their bank balances until that anticipated 4-figure direct deposit hits. Some of them immediately put the influx of cash towards their debt, while others use it every year, without fail, to pay for a vacation in the summer. Regardless of what they end up using it towards, they’re always thrilled to have a little extra cash outside what they usually budget for.

Peter, however, is a different story. Each tax season that I’ve known him, he seems to get more and more aggravated at the thought of getting a refund. He knows that he ostensibly filled out his tax forms correctly at work, claiming the right number of exemptions so that he would owe nothing by the time Tax Day rolled around, and also so as to have the smallest refund possible.


Source : nbcnews