Many in Colorado Not Prepared for Taxes This Year

One of the most dreaded days on the calendar is fast approaching, and despite how much you want to put it off, the day will still arrive. Tax Day is happening this Wednesday, April 15. Nobody likes doing taxes. While getting a tax refund may be nice, the process of doing taxes and the amount of time it takes can be stressful. If you are someone who puts off doing your taxes until the last minute, you are not alone in Colorado. Not only are people procrastinating, they also aren't prepared for their taxes.

Procrastinating Taxes in Colorado

Everyone seems to dread taxes. When the new year begins, you have 4 and a half months to file your taxes. Some like to do it early in the process to get it out of the way, some do it in February or March and take their time to make sure they are right, but many procrastinate and put it off as long as possible. As much as you try to avoid it, you have to file them by April 15. According to IPX1031.com, you are not alone if you put off your taxes, as a recent study showed that 29 percent of Americans like to procrastinate filing. Surprisingly, this is an improvement over last year, when 31 percent admitted to procrastinating on taxes. Not only are many putting them off, but also 21 percent admitted to using artificial intelligence (AI) to help them file this year.

Unprepared for Taxes in Colorado

Time is nearly up to do your taxes, so no matter how prepared or unprepared you feel, it is time to do them, no matter what. According to the survey, 22 percent of Americans do not feel prepared to do their taxes. This likely plays a major factor in putting them off. The number one reason given for putting off taxes was that people find them too complicated and stressful. The second most given reason is that they are too time-consuming, and the third most given reason is that people are worried about owing money. For those who wonder, 15 percent do their taxes very early in January, 38 percent do them in February, 26 percent do them in March, and 18 percent do them in April, with 3 percent doing them on Tax Day. 

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To see the full survey, make sure to click the link in the second paragraph above. If you haven't done your taxes yet, let this be a reminder that time is almost out and you need to get them done. No more procrastinating on doing your taxes.