Tax Day looming? Opening a savings account can help you save on that refund!

If you are a procrastinator when it comes to filing your taxes, you aren’t alone. According to the Internal Revenue Service, up to 25 percent of all Americans wait until the last two weeks before Tax Day to file their taxes or ask for an extension.tax day

If you are one of those 25 percent, Dorothy Barrick, GreenPath counselor, recently shared some quick tips to save money, if you are receiving a refund this year.

  • The best way to avoid fees for cashing a tax refund check is to open a savings account before you file. Look for a savings account that does not have fees.
  • When you file your taxes, you will get your refund much faster, and it will be more secure, if you opt for a direct deposit of the tax refund into your bank or credit union account.
  • Check with your financial institution to make sure that you can have an automatic deposit into the savings account as this differs from bank to bank.

DON’T BET ON THE POST OFFICE FOR THAT APRIL 15 TAX RETURN MAILING

According to MONEY Magazine, with 80 percent of people e-filing in 2012, the Postal Service has fewer locations open late on April 15. FedEx’s evening hours will be normal, and some UPS sites will delay closing. Search for “private delivery services” on irs.gov to get the IRS mailing address you will need to send your return.

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