Tax season isn’t anyone’s favorite time of year. But for 72% of Americans, there’s a reason to pay attention: a refund is coming. The question is what happens to it. Last year, most people saved it. This year, it’s going straight to bills.
The Pressure Is Still On
Here’s what the numbers are actually saying: the financial pressure of the last few years hasn’t let up. Consumers aren’t panicking, but they’re also not exhaling. A tax refund used to feel like extra. Now it’s filling gaps that shouldn’t exist. That’s a meaningful shift, and it says more about where people are right now than any spending report will.
How People Are Filing
- File on my own using tax software: 40%
- Work with a tax professional: 31%
- Use free filing tools: 15%
- Someone else files on my behalf: 8%
- Don’t expect to file due to income level: 6%
Refunds Are Going to Bills First
- Pay bills or reduce debt: 52%
- Build or add to savings: 41%
- Cover everyday expenses: 24%
- Travel or experiences: 17%
- Invest: 17%
- Make a large purchase: 14%
- Treat myself: 13%
When more than half of consumers are putting their refund toward debt before anything else, that’s a pressure story. Costs haven’t come down. Budgets are still tight. For a lot of people, a refund is the first real breathing room they’ve had all year.
The 13% treating themselves? Good for them. The 17% investing? Even better. People are making real decisions with this money, and most of those decisions are pretty clear-eyed.
How to Make It Count
No matter how you plan to use your refund – whether it’s paying down debt, adding to savings, or covering essentials – RetailMeNot can help you make the most of every dollar. From cash back on financial tools to discounts on must-have purchases, a little extra savings can go a long way.
- If you’re tackling debt: Take advantage of deals on financial tools, credit monitoring services, and banking offers to help you stay on track and maximize your money.
- If you’re covering essentials: Stretch your dollars further with discounts on groceries, home essentials, and everyday must-haves.
- If you’re making a smart purchase: Whether it’s tech, travel, or something you’ve had your eye on, find the best savings from major retailers and stack cash back and promo codes to make your refund go further.
Whether you’re looking for cash back on tax software, stacking cash back offers and promo codes for everyday essentials, or finding the best deals on travel, tech, and more, RetailMeNot makes savings easy no matter the season.
Survey Methodology
Source: RetailMeNot Seasonal Survey among Adults 18+. N=1148. Fielded January 2026.
The post Tax Season by the Numbers: Refunds Are Going to Bills, Not Savings appeared first on The Real Deal by RetailMeNot.
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