2023 Tax Refund Uncover Your Expected – Key Figures to Know!

Survey Reveals American Uncertainty Regarding 2023 Tax Refunds

Shift Towards Responsible Financial Behavior Amid Tax Uncertainty

According to New York post, a recent survey conducted by One Poll for Cricket Wireless reveals that uncertainty looms among Americans regarding their tax refunds for the year 2023. 43% of respondents anticipate receiving a tax refund up from 40% last year and 25% are unsure whether they will receive one. Among those expecting refunds the average amount estimated is $2,023.50 down from $2,338.40 last year. This uncertainty is exacerbated by a lack of knowledge about how life changes such as marriage or having children, can affect tax returns with only 38% of respondents aware of these impacts.

Despite the uncertainty surrounding tax refunds, the survey indicates that many Americans are adopting more responsible financial behaviors. Two in three respondents claim they would use their tax refund more maturely this year, with 36% planning to save the extra income, compared to 26% last year. Additionally, half of respondents who have undergone significant life changes express intentions to utilize their tax refunds to financially support these transitions. However, stress remains prevalent leading up to the tax deadline, with a quarter of Americans admitting to feeling stressed, driven by uncertainty and economic concerns.

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2023 Tax Refund Uncover Your Expected – Key Figures to Know!(PHOTO: getty images)

Digital Finance Takes Over: Americans Turn to Apps for Financial Management

As Americans grapple with the intricacies of tax season and economic uncertainties, there is a noticeable trend towards embracing digital tools for managing finances. The survey indicates a significant rise in the adoption of finance apps, with 92% of participants utilizing banking apps and 66% using mobile wallet apps. Additionally, there has been increased popularity in credit score management apps and tax filing apps, reflecting a growing inclination towards utilizing smartphones for financial tasks. With nearly one-fourth of smartphone owners intending to file their taxes via mobile apps in 2024, the digitization of financial management continues to simplify procedures and empower individuals in overseeing their financial matters.

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