April 13, 2015
4/13: Fewer Americans Expect Tax Refund
With the deadline looming for Americans to file their tax returns, fewer residents who file taxes think they will get a refund compared with 2014. More than six in ten of those who wait until April 15th to file do not expect a refund.
“Late filers are less motivated,” says Dr. Lee M. Miringoff, Director of The Marist College Institute for Public Opinion. “Most Americans who wait until the last minute to file their taxes are not expecting good news.”
- 54% of Americans who are filing taxes this year expect a refund, down from 61% who anticipated one last time.
- 63% of those who wait until April 15th to submit their taxes do not expect a refund. 32% do. The opposite is true among those who have already filed. 60% of Americans who have filed expect to get money back. 34% do not.
- Among Americans who expect a tax refund, 47% say they will use their refund to pay bills, and 38% report they will put the money into their savings. Only 15% plan to spend it.
- Men, 18%, are more likely than women, 13%, to spend their tax refund. Women, 52%, are more likely than men, 42%, to say they will pay their bills.
- Age differences exist. Residents 60 and older, 28%, are more likely to spend their refund than their younger counterparts.
- While 22% of Americans who file taxes wait until April 15th to do so, 78% file earlier. This is little changed from last year.