Gen Z Forgets About Tax Refunds: 54% of Gen Z Don’t Know the Tax Deadline (A TurboTax Survey)

For many Americans, tax refunds represent their largest check of the year, averaging over $3,000. Yet, the latest IRS filing data shows increased procrastination in filing this year. But, why do people procrastinate on their taxes? The answer may surprise you—it’s not just about the paperwork!

A recent TurboTax  survey, sheds light on why people procrastinate on their taxes.

Key Takeaways from the TurboTax Procrastination Survey

• Nearly 50% of Americans don’t like or hate filing their taxes.
• Over half (54%) of 18–24-year-olds and 1 in 3 (36%) of 25–34-year-olds do not know when the tax filing deadline is.
• 1 in 4 Americans admit that they hate doing taxes so much, they put it off until the last minute.
• 22% of Americans would rather speak publicly than prepare their tax return.
• While 1 in 3 Americans say completing their taxes is better than going to the dentist, 27% say it’s worse than getting a root canal.
• Seventy-two percent of Americans say filing taxes is better than or the same as deep cleaning the bathroom. 

A Deeper Look at TurboTax Procrastination Survey Results

According to a TurboTax survey of 2,000 adults 18 – 65, nearly half (48%) of Americans either dislike or downright hate the process of filing taxes. And the feelings towards tax filing? Well, let’s just say some folks find it so unpalatable that 22% would rather speak publicly (society’s #1 fear!) then prepare their tax returns.

One in four Americans confess that they procrastinate on their taxes simply because they hate doing it. This often means waiting until the very last minute to file. Our survey also revealed more than half of 18-24 year olds and one in three 25-34 year olds don’t even know when the tax filing deadline is!  The tax deadline is quickly approaching.  It’s April 15th!

So, what would people rather be doing than sorting through receipts and tax forms? It turns out, quite a lot! Some of the more extreme activities people would choose over tax filing include skydiving (19%), hiking a steep mountain (20%), and believe it or not, even getting a root canal (12%)!

Digging deeper into the reasons for delay, 28% of survey participants admitted they don’t have all the necessary paperwork, while others find the process too complicated (9%) or are simply afraid they might owe money (9%). Life changes such as marriage, divorce, or a move also can play a role in filers delaying filing.

But here’s some food for thought: putting off your taxes could mean delaying much-needed cash. According to our January Tax Misconceptions survey conducted by Talker Research many people are planning to spend their refunds on essentials this year. The survey revealed respondents are planning to use their refund for practical things such as putting it towards bills (46%), into their savings (43%) or even to shop for necessities, such as food, utilities or repair expenses (33%).

So, what can you do to make tax filing less of a chore? 

TurboTax Tax Expert, Lisa Greene-Lewis, urges people to file now: 

“Don’t let procrastination cost you your refund!” says Lisa Greene-Lewis, a TurboTax tax expert. “Last year, the average refund was over $3,000, and the IRS is reporting similar refunds this year. There’s no reason to wait.  TurboTax is available now to help you maximize your refund with 100% accuracy guaranteed whether you DIY or want a tax expert to do your taxes for you. Thousands of TurboTax Live tax experts are available to do your taxes for you virtually or in person.”

 Lisa also offers the following advice:

• File Now: You may also be delaying filing due to confusion around IRS layoffs and uncertainty around if and when new tax proposals will pass. 
• There is no reason to wait to file since these proposals will not impact your 2024 taxes you are filing now and the IRS will maintain essential operations throughout tax season.
• Regardless of the reason you are delaying filing, you can file your 2024 taxes (the taxes you are filing in 2025) with TurboTax now. TurboTax stays on top of all tax changes and will help you file your taxes with 100% accuracy guaranteed – whether you want to file yourself or have a tax expert prepare and file your taxes for you.
• Don’t Leave Money on the Table: Thousands of TurboTax Live experts are available virtually or in person to file for you.
• Get Every Dollar You Deserve: File today with TurboTax and get closer to your refund.

Don’t let tax procrastination get the best of you. File with TurboTax today!

Methodology

Findings in this report are drawn from a quantitative, online consumer messaging survey distributed to a demographically and geographically balanced consumer panel representing the broader U.S. utilizing the consumer panel testing platform, Harris Quest DIY. 

• Target Audience:
• N = 2000
• General US Population Adults 18-65