Each tax season, households making less than $52,000 claim $100 billion in federal tax refunds. For many of America's low- and moderate income households, their tax refund is by far the largest check they receive all year. This windfall provides the perfect opportunity to start or grow an emergency fund, college fund, save for a large purchase or whatever your savings goal is. Many people view tax refunds as unplanned bonuses. They see the money as a gift from the government, to use for splurges or treats, but a tax refund provides the opportunity to improve financial situations.
Please join us (@buildcommwealth) and our featured guests (@America_Saves, @econ_progress, @PrepareProsper, and @prosperitynow) with your best tax-time resources and tips for savers using the hashtag #TaxTimeSavings on Tuesday, January 30, at 2 p.m. Eastern.
The #TaxTimeSavings tweet chat will feature these questions for discussion:
- Q1: What are the perks or benefits of saving at tax time?
- Q2: What is the EITC delay? And are there other barriers to saving at tax time?
- Q3: How should someone prepare to save at tax time?
- Q4: What are tips for a volunteer/tax preparer to starting the conversation about saving at tax time?
- Q5: What can taxpayers save their refund for?
- Q6: How can taxpayers get help to file their taxes?
- Q7: Do savings goals and incentives really work during tax time?
- Q8: What are your top #savingstips or creative strategies for #saving at tax time?