Federal Free File Opens Today

Federal Free-File with the IRS begins today. E-file your federal return and select direct deposit to receive your cash in as little as 2 weeks. Here is a table that provides estimated 2010 refund direct deposit and mailed check schedules.

2010 IRS e-file Refund Cycle Chart

How do you plan to spend the extra cash? Do you have an emergency fund or a savings account? Are there bills or other debts you need to catch up on?

Create a plan to budget your refund now so that it doesn't slip through your fingers when it arrives. One thing I have found to work well is to pretend the refund doesn't exist. After all, you have been without this cash for a year already. Why not save or invest the whole amount? Think about it.