Audit I'm saying is it can be accrual world out there. A refund can help you return to normal. 

Answer: 

• About ⅔ of Americans receive a refund
• Average amount: $3,167

Photo by Kelly Sikkema on Unsplash

Questions:

• How might receiving a tax refund impact consumer spending and saving behavior?
• Compare the advantages and disadvantages of getting a large tax refund versus receiving more in your paycheck throughout the year.
• If you received a tax refund of $3,167, how would you use it? Explain why.

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Morning Brew):

"Sure, this must feel like your professor explaining that you have a final paper due at the end of the semester and it would be wise to “start now.” But the sooner you file, the sooner you’ll receive a refund. About two-thirds of Americans got a tax refund last year, and the average was $3,167."

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Want to dig into the 1040? Check out NGPF's On-Demand module: Tackling the 1040. 

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We update our taxes unit every year! Check out the updated Taxes Unit here. 

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.