Nearly half of respondents reported making a mistake when filing their tax returns; men nearly double women in admitting mistakes
With tax season now marked with major changes due to Coronavirus (COVID-19), many tax filers are also scrambling to confidently navigate the ever-evolving tax code ahead of the newly established July 15 filing deadline. This is according to a recent national survey from TaxAct, a leading provider of online and digital tax software. In fact, the research revealed 44% of Americans reported making at least one mistake on a tax return at some point in their lives, with 57% of men confessing to mistakes compared to 32% of women who participated.
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The survey was conducted by Wakefield Research in February—one month before the historic IRS announcement to extend the tax deadline due to COVID-19—uncovered an interesting correlation between the approach individuals take to filing their returns and their propensity to make a mistake. Only one-third (33%) of those who always self-file reported making mistakes at least once on their tax return, while nearly half (48%) of those who rely on others to file their return for them reported a mistake was made. Furthermore, confusion over the tax code (31%) was a top reason participants cited for not electing to file their own taxes. And of those who reported making mistakes on a past return, 57% surprisingly described their approach to doing their taxes as “slow and steady.”
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“Even under normal circumstances, filing a tax return is an emotional event for many people,” said Curtis Campbell, president of TaxAct. “As we all try to adapt to drastic changes in our lives and in tax regulations, it’s even more important that our customers feel our support. That’s why we put such an emphasis on designing product features that help filers uncover the tax savings they deserve and prevent even our most meticulous customers from making a mistake.”
