THE COLOR OF MONEY: Getting a tax refund? Here are some smart ways to spend the money – The Delaware County Daily Times


WASHINGTON — No matter how much experts advise that you shouldn't plan to get a tax refund, many people like the lump sum of cash anyway. And, if you need some positive reinforcement, here are some great ways to spend your refund. Under a 529, earnings are not subject to federal tax if the money is used for such qualified education expenses as tuition, fees, books and room and board.  Fill out IRS Form 8888, "Allocation of Refund." The IRS has made it easy for you to invest by allowing you to directly deposit part or all of your refund straight to a financial institution of your choice.

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