It’s tax season and this time of year, millions of people across the country are anxiously checking their bank accounts to see if they received a deposit from the IRS in their bank account. But one in four Americans have no idea whether they’re getting a tax refund this year or not, according to a new survey.
The poll of 2-thousand U.S. adults also finds:
- Overall, 43% do expect to get a tax refund this year, slightly more than the 40% who did last year.
- Three in five of them are counting on that extra income and 36% plan to save the money.
- Those who do anticipate a refund estimate they’ll be getting $2,023.50 back, less than last year’s average of $2,338.40.
- Two-thirds (67%) of respondents say if they get a refund, they will use it in a more “mature” way than they did in the past.
- Just over a quarter (28%) of Americans admit they’re feeling stressed ahead of the tax deadline.
- Some are anxious about uncertainty related to their tax return, including some whole experienced life changes during the last year, like getting married or having a child. Only 38% knew these life events impact their tax return.
- One in five of those surveyed couldn’t define common tax terms like “adjusted gross income,” “dependent,” or “filing status.”
- Only about a third (34%) of respondents think the 2024 economy will be better than last year’s and 45% of them say this affects whether they spend or save their tax refund.
- Nearly a quarter (23%) of smartphone users plan to file their taxes on their phone this year.
Source: Talker