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BizReport : Research archives : April 01, 2013


TechBargains: Late tax filers pay more

In the grand scheme of things, not putting off taxes will probably save a household money. In some cases a significant amount of cash. According to new data out from TechBargains those preparing and filing taxes early in the year pay about one-third less than those who wait until after April 1 to prepare and file.

by Kristina Knight

TechBargains recently surveyed 900 American's about their tax preparations; their research shows that one in five Americans procrastinate preparing or filing tax documents - primarily because they don't expect a return.

Most Americans file in March (41%) while about 26% file in February and 19% file in April. The thing is those late filers actually wind up paying more than those who prepare returns early. Those filing early (January/February) pay about 33% less in fees than those paying late. Most early filers do expect a return (90%) while only about 47% of late filers do so.

"TechBargains.com is in the business of helping people save money and filing your taxes early may help you save money on fees," said Yung Trang, president and editor-in-chief of TechBargains.com. "For the second year TechBargains.com's annual tax survey has shown those who wait to file their taxes until the last minute pay more to get the job done than those who plan ahead."

One more interesting finding: most late filers aren't happy with their tax preparation options. Which could be way for tax prep offices and local businesses to engage a new customer base for the 2014 season.






Image via Shutterstock

Tags: tax filing trends, tax preparation, tax season 2013, tax trends 2013, TechBargains








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