Rethink your tax refund and maximize your benefits with TaxAct! Getting a big tax refund usually isn’t the best use of your money. On average, each American pays nearly $300 in excess taxes each month, essentially lending that money to the government for free. The money you’re overpaying in taxes each month can instead be used to pay off debt, build savings, or simply provide an extra financial cushion. Did you know that a 25 year-old who invests that $300 a month would end up a millionaire by the time they retire based on historical returns.