General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsI e-filed today; will report when my refund arrives
Screw the "rapid refund" loansharks.
NightWatcher
(39,343 posts)I will be Super Sizing my next Extra Value Meal.
I think last year it took us less than two weeks to get our refund deposited and we e-filed it ourselves.
Good luck, now we wait.
darkangel218
(13,985 posts)Probably will get my refund before you get yours
jmowreader
(50,562 posts)The big trick of getting fast refunds: FILE EARLY!!!! If you file in late January or early February, the IRS isn't overloaded yet. If you wait till April 13, they're slammed.
My expected refund date is 2/5
SheilaT
(23,156 posts)to give the government an interest-free loan every year?
jmowreader
(50,562 posts)My bank pays 0.01 percent interest on savings accounts. That's fairly standard across the banks in my area. The credit unions are at a quarter-percent, but as much as I like the concept of credit unions, my personal situation makes storing it in a bank a wiser decision than storing it in a credit union.
Your choices are: store the money in the Bank of Sealy for free, store the money in a commercial bank for free so some one-percenter can use it to get richer, or store the money with the government for free and a little bit of it might be used to help the needy. And by storing it with the government, I never worry about needing to pay extra on April 15 - which to me is more valuable than the five bucks or so I might make by storing it in a bank.
The Parable of the Talents, updated:
A very rich man was going on a long journey. Before he left, he called his three sons to him.
"I am going to test your investing skills, my sons."
To his eldest son he entrusted five talents. To his middle son three, and to his youngest one.
A year later he came back. "Report."
The eldest son stood: "Father, I found a wonderful investment that would double your money. Unfortunately, it turned out to be a Ponzi scheme. All your money is gone."
The middle son stood: "Father, I invested in gold. Unfortunately, the market for gold took a dump two minutes after I got into it. Of your three talents, I have a tenth of one left."
The youngest son stood: "Father, what the hell can you do with one talent? I put it in a Mason jar and stuck it in the freezer. Here it is."
The youngest son would normally be considered a hero, but his dad was shorting the hell out of the market...
SheilaT
(23,156 posts)better than keeping it for yourself? Your updated version of the Parable doesn't work for me.
I prefer to keep my money to myself, spend it or invest it as I want. Don't mind having to fork up some extra at tax time, because that way *I* got the interest-free loan.
jmowreader
(50,562 posts)aroach
(212 posts)Received it on Friday the 23rd after filing on Jan 19. I expect the federal refund on Feb 6.