The IRS has calculated that the average federal tax refund will be $2.913. What will Americans do with their refunds from Uncle Sam? One-third (33%) will spend all or part of it, with more than one in four (28%) spending it on everyday expenses, according to Capital One Bank’s annual taxes and savings survey.
Other uses for the refund include major purchases (9%), vacation (8%), new clothing and accessories (6%), and electronics (5%).
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