Gift returns after Christmas: Not so fast, buster!

Check out this article at Money Magazine online:

Quick & easy gift returns? Not this year
Sears has restocking fees; Penney wants the "return tag" intact; OfficeMax won't accept opened gifts

NEW YORK (CNN/Money) - Better hope and pray — very, very hard — that you like the gifts Santa puts under the tree this year because retailers' holiday return policies are becoming even more tricky and nasty.

I haven't had any experience with stores charging restocking fees, probably because I don't typically give or receive the type of gifts (electronics) that are usually subject to restocking fees. If I want some electro-gadget, I buy it myself after I've done extensive research about it. If I think somebody else wants something like that, I'm more apt to give gift cards for the value of the gift, rather than something they might not actually want.

Wal-Mart and Target were awesome when my wife and I got wedding gifts from those stores. Wal-Mart gave cash back for returns, even without a receipt, and Target put return amounts on a store-credit card. We felt like we were shopping "for free" for a few months after our wedding.

As far as Christmas gift-giving, make darn sure that that special person actually wants what you're buying them. If they're going to return it just for the money, then just give them money. Everyone will be happier, and the store won't get to suck 15% out of you or them for "restocking".