The average tax refund this year, as of mid-March, is $2,957, according to the Internal Revenue Service — a sizable sum to get all at once. Deciding what to do with such a windfall can be daunting. In a 2016 survey by Capital One, 65 percent of respondents said they think it's best to use a tax refund in a practical way. But what is "practical" may depend on the situation. Respondents were evenly split on the question of saving vs. spending the money. Either way, there are many financially sound approaches to making the most of a tax refund.