Many people anticipate the tax refund season. They hope to use their refund to pay off bills, make a major purchase or take a trip. While a big refund is not the best way to handle your withholding options, many will still take this option. So, how can you make your refund go further this year? Here are three tips to consider:

• The Telephone Excise Tax Refund is a one-time refund to all telephone customers who paid excise tax on long distance service after February 2003 and before August 1, 2006. You can request the refund on your regular tax form or if you don’t file taxes, complete form 1040EZ-T. If you don’t have your old telephone bills, you can still receive a standard refund amount between $30 and $60. This is based on the number of exemptions you claim.

• In 2005, the average refund for many low- to moderate-income households was $2,171. For many, this will be the largest amount of cash they will receive all year. The IRS has created a new program that allows you to direct your refund to up to three different accounts. Imagine if you split your refund between savings, checking and retirement accounts. You could have $724 to spend on yourself or family, $724 to help build your savings for emergencies that come up through the year, and $724 for retirement! With $724 for retirement you could purchase a Roth IRA certificate for $500 and invest the rest in an IRA savings where you could continue to make small monthly contributions throughout the year.

• Stop giving your money away via Refund Anticipation Loans (RALs). Last year Americans spent more than $1 billion in RAL fees. In 2003 we spent another $389 million in administration or application fees. Interest rates for these loans range anywhere from 40% to as much as 1700%. These loans take advantage of your desire to get your money now, but you can still get your refund relatively quickly—and without paying high fees—by filing electronically. The IRS website provides this free service as do VITA tax sites. VITA tax sites provide free tax preparation through trained volunteers. Almost all communities have a site. There are also software programs such as Turbo Tax which are a much cheaper alternative to RALs.

As you head into this year’s tax season, please consider all of the opportunities that are available to you. The tips above may help you stretch this year’s refund many years down the road—possibly into retirement!