National Time Refund Day is observed in the United States on February 29 during leap years, celebrating the extra 24 hours added to the calendar. This day encourages individuals to take a break from their busy schedules and use the time for activities they typically do not have time for, such as partying, completing chores, or simply relaxing. The concept was established by H&R Block to address the common complaint among people aged 18 to 40 about the lack of personal time, as a survey indicated that many would pay for more time. The day promotes the idea of a "time refund," allowing Americans to enjoy their bonus day in whichever way they choose.