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Delayed Tax Refunds Impact Economy

When it comes to who buys auto junk, we are among the finest in quick turnaround and personal service in University Heights, Richmond Heights, and Pepper Pike, OH. The process of junk car scrap insures that the maximum percentage of the vehicle in recycled in the areas of Euclid, Garfield Heights, and Eastlake. We are experienced at scrapping cars 6 days a week throughout Twinsburg, Lakewood, and Linndale Village. Currently, we buy any car in the Newburgh Heights, Collinwood, or Sagamore Hills areas 6 days a week

The March 1, 2017 edition of Yahoo Finance had an article by Noel Randewich that explained how delayed tax refunds are impacting the economy: “The impeded flow of personal tax refunds to consumers is starting to resume following a delayed start this year that has had some retailers concerned about spending. As of February 24, the IRS had sent out $127B in tax refunds, 10% less than the $142B paid @ the same time the prior year, per IRS data.  Due to some changes, income tax filings and refunds were progressing slowly, heightening concerns that recipients may have less cash to spend at malls and with competition from Amazon.com.

Last year’s total refund amount was roughly $260B, allowing for purchasing of appliances, car maintenance or paying off debt. The new system requires the IRS to stall until February 15 to send refunds for those eligible for certain types of tax credits. In early Feb., tax refunds had amounted to just 31% of what the IRS had sent out at that time last year. Some U.S. retailers are struggling to attract consumers who are cautious about the slower reality of economic growth. Macy’s stock is down 8% and Nordstrom is down 6%.  Autozone blames the slow flow of tax refunds in their quarterly reports that missed estimates, but expects to get a boost as people receive refunds.” The full article is available here.

Geauga County Auto Junk & Scrap

Do you have a car in your yard that is now auto junk located in Middleburg Heights, Glenwillow, or Parma? Make your neighbors happy and scrap it for cash today. Fast cash for junk car scrap in now available across the areas of Mantua, Moreland Hills, and Chagrin Falls, OH.

We have long been scrapping cars in the Mayfield Heights, Lake County, and South Euclid regions of Ohio. When we buy any car, we take pride in our efforts to recycle the majority of the components from vehicles in in Beachwood, Bedford Heights, or Bratenahl, OH. Many scrap auto recycling locations use systems and processes that are friendly to the overall atmosphere.