Tax refunds can feel like Christmas in springtime. With a sudden boost to your bank account, you can look forward to going on a shopping spree, catching up on debt or squirreling the refund away in savings. These days, you can even anticipate when your windfall will arrive by tracking the status of your refund with the Refund Status tool available from the IRS online.
For those receiving minimal refunds, the celebration can be less like real bubbly and more like club soda. But forget the pity party: These taxpayers may be receiving small refunds because they're precise in how they prepare for their tax obligation, achieving the goal toward a break-even outcome.
While you can't control the fact that you have to pay taxes, you can control how big of a refund is in your future. Some of the following suggestions still apply for 2010, while you can use others in years to come. So how can you get the biggest tax refund?