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More Americans Plan to Spend Tax Refunds on Vacations

BETHESDA, Md. Feb. 14, 2011

In comparing results of the 2011 and 2006 surveys, the new poll also found that of the 59% of Americans who expect to receive tax refunds:

  • More people plan to spend their refunds on savings or investments this year than in 2006 (66% v. 55%) or to pay off debts (59% v. 52%).
  • Fewer people plan to give their refunds to charity (15% v. 20%).
  • About the same percentage plan to make home improvements (31% v. 30%); buy products such as cars, electronics, or furniture (23% v. 24%); or pay mortgages or education loans (19% v. 20%).
  • Those who plan to "do something else" with their refunds rose to 38% in 2011, up from 27% in 2006.

(Note: respondents could choose more than one way on how they plan to spend their refunds; percentages have been rounded up or down.)

Mickey Macedo

Feb. 1- 3, 2011 United States

Media Contact:  Edward Segal 301-320-7080

E-Mail address: [email protected]

SOURCE Taxsoftware.com

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