What you need to know about returning gifts

Maybe you'll be lucky and get everything you want this year, but there's a good chance you could live without at least one of your Christmas or Hanukkah presents.

So what can you expect when you take that item back to the store?

When it comes to returning gifts, most retailers are rather nice, but a few are getting naughty.

Each year, the website consumerworld.org surveys return polities. Edgar Dworsky runs the site.

"Most of the polices have remained the same since last year," Dworsky said. "You will find some of them, maybe 10 to 15 percent, a little tougher and that may come as a nasty surprise."

Based on its survey, Consumerworld says Target made the biggest change.

Last year, you had 90 days to return computers, cameras and camcorders. Now these items must be returned within 45 days.

And get this: Target says your request for a refund may be denied if the box was opened.

Other notable findings from the Consumerworld survey:

Sears also shortened the window for holiday returns for computers from 60 to 30 days. Fine jewelry must be returned within 60 days, down from 90.

Walmart is a mixed bag. The company reduced its return period for cameras from 30 to 15 days, but it doesn't start counting those days until December 26. It also expanded its holiday return policy to cover anything purchased as early as November 1.

Best Buy shortened its return period by one week. It's now January 24 instead of the end of the month, unless you're a reward member.

Toys R Us continues a policy it started a few years ago that refuses returns and refunds for any electronic item that's been opened.

"I think the lesson here, particularly for electronic items, is to look for shortened return periods this year," Dworsky said. "And if you think you might want to return it, don't break the factory seal."

In most cases, if your gift was purchased online and the retailer has a brick-and-mortar store, you can return it there. But that's not always the case. Fore example, at the Sports Authority, if your gift was purchased on the company website, you can't bring it back to the store.

More information about return policies is available here.