America’s Payday 2021

Let the tax season begin! February 12^th was officially the first day of tax season 2021.  

While it’s not actually a pay “day”, but more like a pay “period”, February 12th  through April 15th and beyond.  Take note, the 2021 tax season is 2 weeks shorter than both 2020 and 2019.

In 2020, 101.3 million Americans received a tax refund with an “average” refund of $2476.00.  Do the math and you’ll discover over $250 billion will be injected into the U.S. economy in a matter of 12 weeks.

The graph below shows when people typically file their returns. As you can see, a large percentage procrastinate and file during the last week.

So, what do Americans do with all this money, and more importantly, are you prepared to capture your fair share of it?  The graph below clearly shows that regardless of what type of business you own, you stand a decent chance of being on the receiving end of some of this refund bonanza. But, only if you ask!

While the graph above is from 2019, how people spend their 2020 refunds will remain relatively the same as in past years. This will vary only slightly due to the COVID pandemic and also the pending stimulus checks, but only slightly.

Regardless of your business category, there’s an opportunity to take advantage of the massive amount of money being pushed into the US economy. 

Knowing this, we now know why so many companies are running tax refund events and promotions.  Americans have a fist full of money and many of them want to spend it. 

To increase your chances of getting your fair share, there are some key elements to consider when preparing and planning a successful tax refund sales event.  Tip #1 is to have a theme that ties in the tax refund element.  As corny as it may sound, telling and specifically asking for part or all of their refund is the best way to increase your chances of getting it!

If you would like to see all 14 Tips to a More Successful Tax Refund Sales Event, click here.

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