New Study Claims 48% Of Americans Stress About Their Taxes And Resort To Professional Help

New research is speaking about the woes and worries of American citizens regarding the stress of paying taxes. And according to this survey, around 48% worry about it.

The survey comprised around 2,000 American adults, out of which 500 were CPAs and bookkeepers. They were quizzed about how they felt about the worries linked to taxes and what pain points were felt along the way regarding the tax season.

Around 39% of respondents claim they file taxes starting the month of February while 28% claim to file taxes in March. On average, tax professionals claim that 41% file personal taxes a little too late. And then you have one in every six people recommending filing taxes as early as the year starts in January.

This poll was conducted by OnePoll a part of SurePayroll. The survey revealed how across the board, there were some extremely stressful parts of this tax process and one of them had to do with gathering necessary data and waiting for documents from employers to come forward.

Other concerns had to do with requiring the need for money so individuals could pay back.

One representative for the company highlighted how it’s always a great idea to start the preparations for tax collections at an early point in time. If you do that before April, it really does pay back big time for small-scale organization owners as it limits stress.

50% of CPAs have recommended that small-scale organizations get professional assistance with their taxes. And some 80% end up referring clients to online payroll services. This decision centralizes crucial documents for tax prep and also saves a lot of time and worry on the part of small firm owners.

While 47% of individuals were seen filing taxes all by themselves, 53% did end up taking consultations from professionals to get the work done.

Other results spoke about tax experts consulting others in the field when they required help, to maximize return, where the figure stood at 63%. Others sought financial advice and they made up 62% of the majority. But the greatest shocker included 73% admitting that they were concerned about finding professionals that maximize their returns.

Today, more citizens are being aware of how money is so important and the average CPA spend around $1900 to get more professional help so their tax needs are met.

Other than that, the average respondent that does not require more assistance related to tax needs would just end up spending $500 to get expert help.

On average, experts claim that seeking professional help is advised when there is a person who makes more income while others feel anyone with this type of income needs to attain opinions from proper tax preparers.

Other kinds of advice mentioned in the study related to searching for alternatives such as online assistance or resorting to big-scale companies. You have to be willing to make use of beneficiaries that are as updated as possible. And above all, you need to take extra protective measures to shield yourself against tax fraud.

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