Survey: Americans Reveal Biggest Tax Stressors

EVANS, Ga., Feb. 21, 2017 /PRNewswire/ -- A new survey from TaxSlayer examines what Americans need to make filing their taxes less, well… taxing.  More than one quarter of Americans (28 percent) think it would be easier to go without a cellphone for a week than file their taxes. Other activities considered easier than filing taxes include locating constellations in the sky at night (27 percent), going without a car for the week (23 percent) and memorizing all of the U.S. presidents in order (18 percent).

The TaxSlayer Tax IQ survey also reveals that while 53 percent of Americans are not confident in their ability to accurately file their taxes without assistance; 72 percent are confident in their ability to file using a computer or online tax software.

"For many people, filing taxes can be stressful, but all it takes is the right planning, preparation and software to make it simple, easy and manageable. Using these three things makes it easy for anyone to file their taxes," said TaxSlayer's Director of Regulatory Affairs and Compliance, Daniel Eubanks.

Almost a third of respondent's report being unfamiliar with terms such as "standard deduction," "exemption," "tax credit," and "withholding." "When it comes to taxes, knowledge is power and learning is continuous," added Mr. Eubanks.

To prepare to file your taxes this season, TaxSlayer recommends:

• Don't Wait to File: You can begin the filing process at any time. You don't have to wait until all your forms are in hand. Doing this allows you to complete your return at your own pace and find out if you are missing any documents, forms or deductions.
• Know Your Forms: Visit IRS.gov to familiarize yourself with tax forms and terminology. Some of the most commonly used forms are 1040, 1040EZ and 1040A.
• Estimate Early: Use a refund calculator ahead of filing to determine if you owe taxes. If you do owe, you can make arrangements with the IRS to set-up a payment plan to reduce the amount owed.
• Get Personal: Be sure you have all of your own relevant income, health insurance and mortgage information, along with the full name, birthdates and social security numbers of all your dependents.
• Determine Deadlines: Based on your tax situation, there could be different deadlines you need to know. And remember that "Tax Day" is not always April 15. The date can shift slightly from one year to the next.

The survey was conducted online in January 2017 with market research data collection organization SurveyMonkey®. For more information and additional tips to make the filing process easier, visit www.TaxSlayer.com or the TaxSlayer blog.

Survey Methodology
The Tax IQ survey was conducted online January 12-18, 2017 with market research data collection organization SurveyMonkey® on behalf of TaxSlayer. A national sampling of 1,045 adults above the age of 18 completed the survey, which has an estimated 3 percent margin of error at 95 percent confidence level. For more information and additional tips to make the filing process easier, visit www.TaxSlayer.com or the TaxSlayer blog.

About TaxSlayer
TaxSlayer grew out of a family-owned company with 50 years in the tax preparation business. TaxSlayer provides online tax preparation software for electronic filing of federal and state tax returns. We strive to provide customers with the highest quality software and online technical support. Our tax preparation software has been used to complete millions of returns since 1998. We are dedicated to the future of the tax industry and proud to serve you.

SOURCE TaxSlayer