Facing first-time filing tax fears

February 27, 2016

If you make money, you generally have to file a tax return. And while some young taxpayers are able to avoid filling out a 1040, every filing season there are a lot of new filers in their 20s or younger fulfilling their tax duties for the first time.

Cat kitten all the sameWhat do you mean this little guy owes taxes?

The Internal Revenue Service's Statistics of Income for the 2013 tax year, the latest one for which there is complete data, reports that more than 25 million filers were younger than 26.

These young taxpayers accounted for 17 percent of that year's filings.

That's a lot of numbers from which to choose when it comes to the latest By the Numbers honor, but the winner this week is 25 million.

Facing first-time filing fears: Filing taxes can be scary. Just ask the millennials who admit that they're afraid of tackling their taxes.

Don't freak out, there's tax help out there — and here at the ol' blog.

If you're a young first-time taxpayer, one of this week's Daily Tax Tips has some advice.

But don't skip over it if you're past your salad days. Much of the advice can apply to folks regardless of age who are filing their first ever Form 1040.

Below is the link to the first-time filer info, as well as ones to the other tips that were posted the week of Feb. 22-26.

  1. Estate and gift tax limits (Monday, Feb. 22, 2016)
  2. 6 filing tips for new taxpayers (Tuesday, Feb. 23, 2016)
  3. States with no income tax (Wednesday, Feb. 24, 2016)
  4. 4 ways to get your IRS refund (Thursday, Feb. 25, 2016)
  5. Where's your refund? (Friday, Feb. 26, 2016)

If you've filed your return, be sure to check the Friday tip on tracking down your refund.

And if you've yet to file, check out all the tax tips that have been posted so far this year for ways to make the process easier and reduce your tax bill.

In addition to these end-of-week roundups, you can peruse all of 2016's tax tips on special tips pages for January and February. The tips will continue, highlighted each weekday in the upper right corner of the blog page, through the April 18 filing deadline.

Stay fearless, folks!

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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Tax Season 2026 Continues!

We made it. Tax Day 2025 is finally over. For most of us. When the filing season started on Jan. 26, millions who were expecting refunds filed immediately. Most of us got our returns to the Internal Revenue Service by April 15. But plenty of taxpayers also got extensions. They are looking at an Oct. 15 filing deadline.

Those procrastinating filers aren’t a problem. In fact, the IRS appreciates taxpayers who take time to fill out their 1040 forms correctly. It also is grateful that tax submissions are spread out a bit, especially now that the IRS is a leaner agency. Processing returns is easier when they arrive throughout the year instead of in massive bunches.

But enough about Uncle Sam’s tax collection issues. The focus now is on all y’all who filed for extensions, giving you another six months to complete your return. Since your new mid-October due date will be here before you know it, let’s get started now on meeting it.

The ol’ blog is here to help you finish up your extended Form 1040. You can start with January’s tax tips page, which has links to the rest of the year’s tips by-month collections. You also can peruse various tax categories for more tailored advice by clicking on the More Tax Posts drop-down menu at the top of this (and every) page.

And to make sure you don’t miss your new filing deadline, the count-down clock below will let you know just how much time you to file by Oct. 15. At the latest.e. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Credits/Deductions
Disasters
Family
Filing and Paying Taxes
Politics/Laws
Refunds
State Taxes
Tax Brackets/Inflation
Tax Tips
Comments
  • Kay
    10 years ago

    seems a tad low to me, but I’d need to go back and check prior years’ data.

  • JOHN LAINE
    10 years ago

    is 17% supposed to be high? It sounds about right or maybe a little low

Comments are closed.