Are you stressed about doing your taxes or just avoiding the dreaded duty? Tax Day is less than a week away (Monday, April 15th), but that doesn’t seem to have anyone rushing to get theirs done. People are actually putting it off, according to a new survey that finds 47% of tax filers delay the task.
The State of Taxpayer Stress in America report just came out from TaxAct. Their poll of more than 11-hundred tax filers reveals:
- Procrastination keeps people from even starting the process of filing a tax return - even when they expect to get a refund.
- So why aren’t they eager to get that money back sooner? Stress. On average, Americans will spend eight hours stressing over their tax preparation this year alone.
- That’s more time than it takes to fly cross country, binge watch half a season of a TV show, or cook a pot roast.
- Nearly half (47%) procrastinate, putting off the inevitable for as long as possible.
- Even worse? For 43%, the time they spend procrastinating is longer than the time it takes to do their taxes.
- When they actually get around to filing, 61% take at least one break before completing the task.
- Younger generations are more likely to put off filing their taxes, as Gen Z and millennials spend 30-to 40% more time procrastinating than filing, compared to Gen X and baby boomers.
- Some people would rather eat old sushi or clean the oven just to avoid doing their taxes for just a little bit longer.
Source: Yahoo Finance