Here\'s Why You Don\'t Really Want a Big Tax Refund

As tax season comes to a close many of us are looking forward to spending that sweet, sweet return.????VO-tax return??But if you ARE getting a big check from the IRS, tax experts tell MarketWatch, you’re actually losing out.

????VO-doing taxes??The director of tax policy and advocacy at the American Institute of CPAs explains that the more you withhold for taxes on that W-4 form you file with employers when you start a job you quote:????VO-’’??“...effectively gave the government an interest-free loan for use of the money.”????VO-piggy bank/spend??Because the less you let the government hang on to, the more of that tax return money is going to be in your pocket the whole year to save, invest, spend, whatever.????VO-empty wallet??And since two recent studies found that most americans have less than $1000 in savings, we’re guessing you could probably use that money month to month.????VO-money stack??And in 2018 the average return was $2900 according to the IRS.????VO-woman worried bills??But of course if you withhold too much, you could end up owing at the end of the year.????VO- tax forms??Which according to the U.S. Government Accountability office, because of the changesto the W-4 form that went into effect in 2018-????VO-uncle sam money overlay??They expect 21 percent of taxpayers to OWE money to uncle Sam in 2019.????VO-beach??So you can probably forget about that refund-holiday.??