Retailers shouldn’t expect much of a big sales bump this year from consumers’ tax refunds.
More Americans than ever plan to hold on to their tax refunds this
year rather than spending the money they get from the IRS, according to
the annual tax refund survey by the National Retail Federation and
Prosper Insights & Analytics.
Of the 65% of taxpayers expecting a refund, 49% say they will put it
into savings. That’s up from 48% last year and the highest level in the
12-year history of the survey.. . . more