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You could win a cash prize equal to your federal income tax refund

You could win a cash prize equal to your federal income tax refund
Posted at 6:30 AM, Jan 12, 2023
and last updated 2023-01-18 09:34:46-05

Receiving a tax return is a bright spot during the year for many. It may mean that taxpayers can pay off some bills or debt, or even just get some extra groceries.

This year, tax management service company Jackson Hewitt is looking to expand the returns for dozens of lucky people. In celebration of its 40th anniversary, Jackson Hewitt Tax Service Inc.’s Double Your Refund sweepstakes will award 40 cash prizes equivalent to the value of the winner’s federal tax refund.

The sweepstakes goes through April 2, 2023, with a maximum match of $15,000 and a minimum prize of at least $1,500. Additionally, each week, 40 runner-up entrants will be randomly selected to win $400.

To qualify, you will either need to file your taxes with Jackson Hewitt or mail in an entry. Those who file with Jackson Hewitt will automatically be entered into the sweepstakes. Those who don’t use the company to file can enter one of the weekly drawings by mailing in an entry in. This must be done by the Monday following the week that their federal tax return was filed (within the sweepstakes period).

You can find the official rules and mail-in qualifications on Jackson Hewitt’s website. Winners will be selected in random weekly drawings during the 12-week entry period. All potential winners will be notified by email, phone or mail.

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According to a recent Jackson Hewitt survey, if people could double the size of their refund, 42% would spend the money on major bills like rent/mortgage, medical bills, debt, utilities or a car payment. About 34 percent would deposit money into savings or a retirement account or use it for essential items like gas, groceries, household supplies and medical necessities. Another 28% choose to pay off credit card debt.

What would you spend the extra cash on if your federal income tax was doubled?

This story originally appeared on Don't Waste Your Money. Checkout Don't Waste Your Money for product reviews and other great ideas to save and make money.