Don’t look now, America, but it’s time to don your thinking cap, grab your W-2s, and collect those 1099 forms, because it’s tax season! Between the beginning of this year and April 15, more than 150 million individual taxpayers are expected to file their 2016 income taxes, or at worst file for a six-month extension.
For most Americans, tax time usually means a fat refund. Internal Revenue Service data from 2014 shows that 109.5 million of the nearly 150 million returns processed by the IRS resulted in federal refunds, averaging $2,792.