This year, taxes are due on Tuesday, April 18th. (If you want to know why, click here).
If you haven't started your taxes yet, you need to get going. And if you're getting a refund, then what are you waiting for? It's your money, and the sooner you get it back, the sooner you can make it work... for you.
Now most of us have heard that you're simply giving the government an interest-free loan when you pay too much in taxes. And it's true. Bankrate.com ran the numbers and suggested that if you simply adjusted your withholding amount to keep an extra $50 per paycheck, and THEN put it into a 401(k) instead; thirty years later, you'd have an extra $105,000 at retirement.
The key is to never see the money! Because if you just put the money in your paycheck, you're far more likely to just spend the money. And a few dollars here, a few dollars there.... just not as satisfying as a big refund. Just save it and get a LOT more at retirement.