Be wary of new debt at tax time If you’re thinking about borrowing money against an anticipated tax refund, think again. Or if you owe the Internal Revenue Service and figure you may as well rack up some re wards points by putting that amount on your credit card, think twice. Both these actions might sound appealing. But actually they’re a bad idea, experts say.

The law allows companies to apply losses from 2008 or 2009 for tax refunds against taxes paid in the previous five years, instead of the prior two years.

You've paid your debt to Uncle Sam all year, so if you get a little cash back as a tax refund, be sure to make the most of it. In 2009, the average tax refund rose to $2,683 from $2,371 in 2008, according to IRS reports . If recent trends continue, that number could go even higher this year.

DALLAS — The tax filing deadline is just a little over a month away, and those lucky enough to get money back are eager to receive their refunds — and Consumer Credit Counseling Service recommends that consumers prioritize ways to wisely save, invest or spend any refunds to determine how to use this money to stimulate their finances.“Spending this year’s tax refund on home repairs or smart ...

Getting your tax refund quickly using a rapid-refund loan has gotten more difficult for the second straight year. That may frustrate the customers who are turned down for these expensive short-term loans. But consumer advocates say it's good news.