Beat the Tax Deadline Blues: Strategies to File Early
Strategize your actions accordingly:
Procrastinating on filing tax returns? You're not alone! Let's dive into why people tend to delay this task and how you can conquer it. We chatted with Dr. Thomas Mathar, a renowned behavioral economist from Aegon UK, to get some insights.
Q: Dr. Mathar, what causes some taxpayers to be late in submitting their tax returns?
A: Generally, people postpone complex tasks, and tax returns are an example of procrastinated duties. Despite the benefits of an early submission (maybe even a refund!), tax prep can seem overwhelming due to the intricacies of the system.
Q: Where does the resistance to filing tax returns come from, and how can it be overcome?
A: The resistance is commonly rooted in negative past experiences or false assumptions. By adopting a positive mindset, you can transform tax filing from a chore to a beneficial financial check-up.
Q: How can taxpayers tackle the unpleasant bureaucracy earlier in the tax season?
A: Start by changing your perspective toward tax filing. Break the task down into manageable chunks, and reward yourself after each completed step. You can also tie tax prep to a pleasurable activity, such as enjoying a favorite treat.
Connecting with peers can also serve as motivation. If you know others have already filed their tax returns, you'll want to join the majority.
Insights:
- Benefits of early filing:
- Receive refunds sooner
- Avoid last-minute rushes
- Emphasize tax incentives and credits
- Promote digital filing tools
- Offer incentives for early filers
- Highlight legal and financial advantages
- Public awareness campaigns
By applying these strategies, you'll be motivated to submit your returns earlier in the year, benefiting both yourself and the tax administration. Let's get started!
- The intricacies of the tax system might make tax preparation seem overwhelming, leading to procrastination, but early submission can provide benefits such as receiving refunds sooner.
- Negative past experiences or false assumptions often contribute to the resistance toward filing tax returns, but adopting a positive mindset can transform tax filing into a beneficial financial check-up.
- To tackle the unpleasurable bureaucracy earlier in the tax season, one can change their perspective toward tax filing, break the task down into manageable chunks, and reward themselves after each completed step.
- Actions to encourage early filing might include emphasizing tax incentives and credits, promoting digital filing tools, offering incentives for early filers, and highlighting the legal and financial advantages of early submission through public awareness campaigns.
