Americans making plans for their tax refunds

Have you made plans as to what you are going to do with your tax refund check this year—that is, if you are getting one? According to National Retail Federation’s 2011 Tax Returns Consumer Intentions and Actions Survey, conducted by BIGresearch, 13.2% of Americans plan to spend their refund on a big ticket item, up from 12.5% last year. An increasing number are also planning to be financially prepared for the worst. More people are also planning to save their refunds (42.1% vs. 40.3% in 2010).
A good number of consumers (41.9%) are planning to pay down debt. Other consumers will use their refunds for vacation (11.9%) and everyday expenses (29.7%).
Two-thirds (66.2%) of tax payers are expecting a refund this year, up from 65.5 percent last year, but down from the percentage expecting a refund in 2009 (68.4%). The number of people who file their taxes online continues to increase. This year, 57.6% of taxpayers will file their taxes online, up from just 50.1% in 2007.

Pictured: More Americans are planning to spend their tax refund check on a big ticket item this year, but more are also planning to save the refund.