Americans worried tax returns won’t help much amid rising costs

Bonnie Marrocco News10NBC

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ROCHESTER, N.Y. – A majority of Americans are worried about their tax refunds this year. A new report from Bankrate found nearly 70 percent of those who expect to get a refund are concerned it won’t make as much of an impact due to inflation and rising costs, or will be smaller than usual.

About 75 percent say the money is important to their overall financial situation. The top plans for refunds are to pay down debt, boost savings, or use most or all of it to pay for daily expenses.

A majority of Americans are worried about their tax refunds this year. A new report from Bankrate found nearly 70 percent of those who expect to get a refund are concerned it won't make as much of an impact due to inflation and rising costs, or will be smaller than usual.