With just one day to go for the final deadline for filing tax returns, millions of Americans have yet to file their returns. Bloomberg reported that since April 8 this year, the Internal Revenue Service (IRS) has received 29 million tax returns.

On April 13, the IRS issued a statement that nearly 40 million people were yet to file their taxes. The agency expected 18 million returns to be filed in the week ending April 15, and another 12 million in the following days till the deadline. This year the IRS expects to receive more than 8 million requests for extensions.

Tax day this year falls on April 18 and, despite those extra days, tax filers have been in no hurry to submit their returns.

(See also: Why Your Taxes Are Due on April 18 This Year)

The Bloomberg report suggests a 24% increase in late season filing for taxes this year, compared to April 2016, when the filing date was also April 18 (April 19 in Massachusetts and Maine). According to data from the IRS, for most of the April 2017 tax season, filers lagged behind the numbers recorded last year.  Till April 7, the IRS had received over 103 million returns of which it had processed nearly 100 million and issued more than 80 million refunds totaling approximately $229 billion.


Experts believe it is the ease of online filing and tools that help with filing taxes that prompt people to put off the task to the very last minute.  Nearly 92% of all tax returns received by the IRS on April 7, 2017, were through e-filing. While 57% of the e-filings were through tax professionals, 43% (over 40 million) were self-prepared.


“You can just sit in your pajamas or your underwear and use TurboTax,” Brad Smith, chief executive of parent company Intuit Inc., said in an interview with Bloomberg. “You just hit send by 11:59 p.m. and you’re good.”

Millennials are the most likely to procrastinate till the very end to do their taxes, Adobe Digital Insight’s 2017 Tax Day report shows. In fact, 12.4% of Millennials surveyed by Adobe were expected to leave their tax filings for the last 24 hours, almost twice as many as the 6.6% who filed that late in 2016. Another 16% will have started the process just a few days before the deadline, Bloomberg reports.



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