Definition: The emotional trauma and turmoil commonly associated with an impending tax return.
- Procrastination: Millions of taxpayers request extensions beyond the April 15th deadline every year.
- Lack of Confidence: Surveys suggest an overwhelming percentage of respondents believe their tax return is very complex, and a majority either "hated" or "disliked" doing their income taxes.
- Anxiety: When surveyed, almost half of Americans would rather go to the dentist than prepare their taxes.
- Exhaustion: The average person spends hours (more than 12-14 hours) working on just the Form 1040 and more than 24 hours preparing more complicated forms.
- Confusion: A majority say their federal taxes are too complicated and it's easy to become overwhelmed with new tax laws every year.
Suggested Treatment Plan: There are simple and effective ways to make tax preparation less painful and debilitating. These treatment options, if followed, will have multiple benefits including making tax preparation less painful, refunds more lucrative in
some cases, while achieving tax clarity and financial freedom.
- Know yourself and the personality traits, like anxiety, which can sabotage your financial well-being. My website, www.kathleengurney.com, has tools and information that can help you understand the psychology behind the way you manage your money.
Possible Side Effects: Side effects include increased confidence, less worry, more happiness, possible euphoria, tremendous sense of relief and exhilaration. If these side effects continue, or you experience larger than normal tax returns, easy to file tax returns, and more time with your family, be sure to thank yourself for following these tips.
With expert guidance and smart software, you can manage your "Taxitis" and get on the road to recovery.
Disclaimer: "Taxitis" is not a real condition. However, the feelings associated with this fictional ailment are real and can cause extreme discomfort. I have experienced them with clients in my practice as a psychologist specializing in money management.