Many Americans tend to wait until the last minute to file their taxes each year. A survey from IPX 1031 found that 33% of Americans wait until the last minute to file their taxes. IPX 1031 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 to find exactly where are the most tax procrastinators in America. When asked why Americans procrastinate on filing their taxes, 40% said that filing their taxes on time was too time-consuming. 22% said they felt the tax forms were too complicated and stressful. 22% said they purposely took their time to make sure everything was correct on their submission. Another 10% said they weren’t stressed about filing quickly because they were receiving no refund. 6% said they were worried they would owe money and wanted to wait as long as possible to file.
The survey next asked about tax refund spending and whether or not Americans had regrets on how they spent their tax refund. 20% said they regret how they’ve spent their tax refund previously. When asked why American’s regret how they spent their refund, the top answer was that they wish they had saved more of the refund money. Another 40% of respondents said they wish they had spent their refund on necessary expenses. 13% wish they would have invested the money as opposed to spending it. 1% said they wish they had splurged on an item for themselves