Opens in a new tab

Filing season 2014: Death, taxes, root canals and refunds

March 10, 2014

Everyone knows Ben Franklin's oft-quoted remark about death and taxes.

Neighborhood Halloween visitor_photo by Kay BellThat pair showed up again in a recent poll from DealNews. In a head-to-head match-up of life's most frightening constants, almost a third (32 percent) of the survey's respondents said they feared doing their taxes more than death itself.

Now I'm all for a healthy respect for and acceptance of things we can't change, but yikes people. It's only taxes!

If you find your annual filing chore that horrifying, you'd best get a tax professional and soon!

At least Ben will be happy that his observation still has some perverse relevance to today's filers.

Dentists less scary, too: Another 23 percent who took DealNews' survey just as the 2014 tax-filing season was getting underway said they'd actually rather get a root canal than do their taxes.

A root canal? Really?

If the dental and death responses aren't an argument for tax reform, I don't know what is!

At least the poll query about refunds got less sinister replies.

Fifty-one percent of DealNews' readers said that they would save the majority of their refund. That's a 17 percent increase from last year.

And only 9 percent of poll respondents said they would spend their tax cash, down 13 percent from last year.

Refund amounts larger in 2014: How much money will those folks have to save or spend? Internal Revenue Service data through February shows that the average federal tax refund check is $3,034.

That's slightly larger (3 percent) than refund amounts issued at this point last year.

Most people view their payroll withholding as a forced savings account that they can't access until they file their annual 1040 forms.

But if you're living on the edge, paycheck-to-paycheck, you might be better served by adjusting your withholding and getting your tax cash throughout the year. That way you pay your rent and other bills without fear of late charges and credit rating dings.

Of course, everyone's tax situation is unique. If short-term savings account at the Bank of Uncle Sam works for you, fine.

But at least look at the possibility of getting your tax cash sooner.

You also might find these items of interest:

Share:

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. 

Latest Posts
confused office worker
8 workplace benefits questions to ask this enrollment season

October 26, 2026

Millions of U.S. workers are now deciding what workplace benefits, some of which also offer…

Read More
TAX-SAVVY WAYS 
TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

Comments
  • I have had many experiences with people saying they would rather endure painful activities than file their taxes, as a CPA I cant see why you would rather endure pain than do a simple task…but as my wife always reminds me, its my job, so I know what I am doing!
    For those that would prefer a root canal…go ahead and let a CPA do all the work for you!

Leave your comment