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America’s Biggest Procrastinators On Tax Day
The IRS recently extended the federal tax deadline from April 15th to May 17th, giving many American’s more time to procrastinate filing their taxes.
IPX 1031 recently surveyed 1,000 Americans to learn more about their fax filing habits. They also analyzed Google search data from all 50 states and the 30 largest American cities during last year’s tax season to determine which cities and states have the biggest tax filing procrastinators.
Here’s what they found:
- The states with the biggest tax procrastinators: 1. Alaska 2. Hawaii 3. Delaware 4. Nevada 5. California.
- The states with the least tax procrastinators: 1. Iowa 2. Michigan 3. Ohio 4. Wisconsin 5. Pennsylvania.
- 33% of American’s wait until the last minute to file their taxes.
- Top reasons why Americans procrastinate on their taxes: 1. Too time consuming (40%) 2. Too complicated (22%) 3. Want to make sure it’s correct (22%) 4. Not getting a refund/no rush (10%) 5. Worried I’ll owe money (6%).
- This year Americans expect to receive an average tax refund of $2,059. The average federal tax refund for individuals for the 2020 filing season was $2,707, so many Americans expect a smaller refund this year.
- 32% of surveyed respondents didn’t know that Tax Day was extended until May 17th!
Take a look at the full report.