- column
- Top Line
Rebates to Relieve Debt
Please note: This item is from our archives and was published in 2008. It is provided for historical reference. The content may be out of date and links may no longer function.
Related
IRS keeps per diem rates unchanged for business travel year starting Oct. 1
Details on IRS prop. regs. on tip income deduction
AICPA urges IRS to modernize estate and trust tax forms
TOPICS
When it comes to tax rebate checks, American consumers may not be so eager to spend, spend, spend.
A CCH and Harris Interactive survey asked 2,020 adults what they would do with a broad-based tax rebate. Their responses were:
Pay down debt – 47%
Save it – 32%
Spend it – 21%
Across all income levels, paying down debt was the most common response. In terms of employment status, only 17% of respondents working full time said they’d spend the rebate, while 29% and 32% of unemployed and retired respondents were likely to spend it.
Source: CCH Complete Tax survey, www.completetax.com.
