NRF: Americans Filing Taxes Early

Washington, D.C. Americans will file taxes earlier this year and adopt e-filing in greater numbers to get their refunds earlier, according to a survey by the National Retail Federation.

This year, about two-thirds of consumers expect a refund from their 2008 taxes.

Of those expecting a refund, 71% will file by the end of February, compared to 37.5% of people who are not expecting a refund, the NRF’s Tax Returns Consumer Intentions and Actions Survey found.

In addition to filing earlier, people who expect a refund are much more likely to file online, about 59.9% compared to 38.9%.

Almost 90% of consumers polled said they will either save at least some of the money or use it to pay down debt. Only 11% said they will use it to make a major purchase such as a TV or car. A quarter said they need it just to pay everyday bills.

The survey also found more people paying accountants to do their tax returns, 25.7% compared to 23.5% in 2008. Half will prepare their tax returns themselves.