Americans Eager to File Tax Returns This Year
Feb 27, 2008
Source: The Merchandise Group
More than 60 percent of Americans have filed their tax returns or will file by the end of February, according to a survey from the National Retail Federation. Conducted by BIGresearch, the survey found that Americans were filing taxes earlier this year in an effort to expedite their refund, which will help during these tough economic times. This year, 69.2 percent of consumers will receive a refund, and of those who will receive a refund, 27 percent plan to spend it on everyday expenses, 12.1 percent will make a major purchase and 12.1 percent will take a vacation, thus putting the money back into the economy.
"With high gas prices, a sluggish housing market and low wage growth, consumers are in the middle of the perfect storm," said Tracy Mullin, NRF President and CEO, in a statement. "Americans who receive a tax refund will be anxiously awaiting those checks to buy necessities, pay down debt, or indulge in something they had been putting off." As for the method of tax preparation, almost half (49.2 percent) will file online, and 23.5 percent will use an accountant.
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