[UNITED STATES] With just over two weeks until Tax Day, April 15, millions of Americans have yet to file their federal income tax forms, according to the most recent Internal Revenue Service (IRS) data. As of mid-March, the IRS had received around 70.4 million returns, marking a 1.7% decrease from the same period previous year. This suggests that more than half of taxpayers are still putting off filing their taxes.
Why Are Americans Procrastinating?
Tax procrastination is a widespread phenomenon, with surveys suggesting that nearly one-third of Americans delay filing until the last minute. The reasons for this vary:
Complexity and Stress: Many taxpayers cite the complicated nature of the tax code and the stress involved in ensuring accuracy as key factors.
Uncertainty About Refunds or Payments: Some people delay filing because they are unsure whether they will owe money or receive a refund, with 15% of taxpayers typically owing an average of $6,000.
Time Constraints: Others simply find the process too time-consuming to prioritize earlier in the season.
Interestingly, 21% of Americans are unaware of the April 15 filing deadline, further contributing to delays.
The Risks of Waiting Until the Last Minute
While some taxpayers may believe that delaying their filings is harmless, experts warn that procrastination can have significant consequences:
Higher Costs: Late filers often pay more for tax preparation services. On average, early filers spend $87, while those who wait until April or later spend $163.
Increased Errors: Rushing through tax forms at the last minute heightens the risk of mistakes, which can result in overpayments or delays in refunds.
Identity Theft: Filing early helps protect against tax-related identity theft, as criminals cannot use your Social Security number to submit fraudulent returns once you’ve filed.
Who’s Filing and Who’s Not?
Early filers are reporting higher refunds than previous year. The average refund thus far is $3,271, up 5% from 2024. However, this figure is projected to fall as more returns are processed nearer the deadline.
Meanwhile, regular late filers are feeling the squeeze. According to a survey, 51% of respondents feel more anxious as Tax Day approaches. Despite this, many taxpayers fail to use tools and services designed to make the process easier, such as free filing software and applications.
Special Considerations for 2025
Certain groups have extended deadlines this year due to exceptional circumstances:
Disaster-Affected Taxpayers: Individuals living in federally declared disaster zones may qualify for delayed filing dates.
Americans Abroad: U.S. citizens living overseas have until June 16 to file their returns without penalties.
For most taxpayers, however, the April 15 deadline remains firm. Those unable to meet it can request a six-month extension but must still pay any taxes owed by April 15 to avoid penalties and interest.
Tips for Filing Before the Deadline
To reduce stress and ensure accuracy when filing taxes in these final weeks, experts recommend:
Organizing Documents Early: Gather all necessary forms (e.g., W-2s, 1099s) and receipts for deductions ahead of time.
Using Trusted Resources: The IRS Free File program offers free tax preparation software for eligible taxpayers. Additionally, Volunteer Income Tax Assistance (VITA) sites provide free help for qualified individuals.
Double-Checking for Errors: Review your return carefully before submitting it to avoid mistakes that could delay refunds or trigger audits.
Looking Ahead
For individuals who are constantly scrambling during tax season, financial experts recommend breaking the cycle by starting sooner next year. Filing early not only minimizes stress, but also gives you more time to handle any concerns that emerge during the process.
As Tax Day approaches, millions of Americans must act swiftly to meet the April 15 deadline and avoid possible fines. Whether you expect a large refund or are planning to make a payment, taking preemptive steps now can save you time and money—and bring peace of mind as another tax season comes to an end.
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