Why You Haven’t Filed Your Taxes Yet

Tax Day 2024 is April 15, but many Americans aren’t ready to file their taxes. If you are procrastinating about your taxes, it might be because you’re feeling worried about what refund you might get — or how much you might owe.

For millions of Americans, tax season is a time to get a little extra cash in the bank, in the form of tax refunds. As of the latest IRS data for March 29, 2024, the average tax refund for 2024 is about $3,050. Many Americans put their tax refunds toward big financial goals, like paying off debt, replenishing savings accounts, or investing for the future.

But if you’re not expecting a tax refund, or if you’re worried about having to pay extra taxes, the 2024 tax season might not be such a happy time. Let’s look at a new survey from Trustpilot about why Americans haven’t filed taxes yet — and what you should do next.

48% of Americans had not filed taxes by March 29

A recent survey from Trustpilot conducted by Attest found that, as of March 28-29, 48% of Americans had not yet filed taxes. The biggest reasons given for not filing taxes earlier include the following.

Not confident in filing taxes (13%)

Some people don’t know how to file taxes or aren’t sure where to begin. If your tax situation has changed, if you’re in a higher tax bracket, or if you’ve had some big life changes that affect your tax bill, you might have questions about filing taxes.

What to do about this tax problem: If you don’t know how to file taxes, start with the IRS website. If your income is $79,000 or less, you can qualify for IRS Free File and get free tax software to file your return. There’s also a new free tax-filing test program called IRS Direct File (but only in some states, for some qualifying groups of taxpayers).

Owing extra taxes on April 15 is never fun, but it can be especially stressful and discouraging if you can’t afford to pay your tax bill. Twelve percent of the Trustpilot survey respondents said that, in case they did owe money to the IRS, they likely wouldn’t be able to afford it.

What to do about this tax problem: If you can’t afford to pay your tax bill, the IRS has options to help you pay your tax debt. You can set up an online payment plan, or ask for an “offer in compromise” that lets you pay off your tax debt for less than the total amount you owe. IRS payment plans typically charge interest and fees, but some fees can be waived for lower-income people. If you want an offer in compromise, you have to qualify based on your income and expected financial hardship.

Don’t know where to find resources to file accurately (8%)

The best tax software can help people file quick, accurate tax returns. But not everyone is digitally savvy or comfortable with online tax questionnaires — or you might have special tax situations or complex questions that need professional tax help.

What to do about this tax problem: The IRS website can connect you with free volunteer tax help for seniors and some other groups of people.

Bottom line

If you are worrying about filing your taxes, you are not alone — many Americans are waiting until April 15. But make sure to file your tax return by April 15, or ask for a six-month filing extension, even if you might owe taxes. If you are required to file taxes and do not file your tax return, the penalties can be more severe than the costs of owing money to the IRS.

The best tax software can make tax season easier and help you get the refund you deserve — or help you understand how much you owe. File your taxes and get a fresh start for the rest of 2024.

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