According to USA Today, only a fraction of people (12%) admit they have plans to splurge with their tax refunds. Even fewer folks (3%) that we surveyed last year admitted to splurging. But the USA Today reporter also discovered that the rest might be fibbing.

As consumers receive their tax refunds, their impact on the U.S. economy begins. According to the Commerce Department, the 2006 tax-refund season helped retail sales to increase 12% to 20% compared with February.

In fact, the $230 billion in tax refunds that hit mailboxes during March, April, and May makes such an impact that at least one tax professional has given it a name: the April problem.

Come on, tell the truth. What are you going to do with your refund?

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