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Some Hard-to-Believe Real Life Tax Refund Stories
Tax season is officially upon us. You still have some time to file your taxes, but before you do (or while you wait for a refund to hit your account) we wanted to share some truly hard-to-believe stories about taxes and tax refunds.
A Very Expensive (Illegal) Shopping Spree
In 2012, a woman in Oregon used online tax software to file a false tax return. She was given a $2.1 million tax refund which she immediately started spending on things like a new car and household items. However, she didn’t buy some extravagant vehicle with all that money; she paid $2,000 in cash for a 1999 Dodge Caravan and then bought $800 worth of tires and wheels. She was caught before she could spend all the money, but her tax fraud is believed to be the biggest in Oregon state history.
It’s Not Your Money!
Apparently the saying “everyone makes mistakes” is true, because even the IRS makes mistakes. A few years ago, a woman in Denver got a refund check for $122,783.51 that wasn’t hers. She did the right thing and voided it, but this apparently happens thousands of times each year. Sometimes, your refund ends up in someone else’s account because the wrong bank account number was entered. In that case, it’s up to the person who incorrectly got the cash to turn it back into the bank or to the IRS. Fingers crossed this doesn’t happen to you!
Spreading the Wealth
Did you know that for 17 years, the IRS kept a list of the 400 tax returns with the largest Adjusted Gross Incomes? Basically, these are the 400 people in America who made the most money between 1992 and 2007. You might be surprised to learn that 387 of the 400 reported charitable contributions with an average deduction amount of $16.4 million! It’s so great that they were spreading their wealth, but we’re not sure why the other 13 had a hard time opening their wallets.
It is estimated that this year, Americans will receive an average refund of $3,030. If you want to use that money wisely, we can help! New tires and wheels for your car, furniture, bedding, and/or appliances are all very smart ways to spend that extra money.
We’d love to help you with our No Credit Needed lease-to-own option. You will have your payment activity reported to Experian while getting up to 12 months to pay your lease. You don’t even have to wait for your tax refund to come in to start shopping. You can buy now and then take advantage of our 90-day purchase option (3-months! To find a store near you, visit our website and click the “Find a Store” button toward the top of the page.