For many people, tax season isn’t only about gathering W-2 forms or calling an accountant
NEW YORK — For many people, tax season isn't only about gathering W-2 forms or calling an accountant. It can also bring intense feelings of stress or anxiety about dealing with finances.
Financial stress during tax season can manifest in different ways, whether that's procrastinating on your tax return until the last minute or experiencing intense stress about filing incorrectly. If you’re dealing with financial stress right now, you’re not alone.
“Many Americans experience high stress during tax times, and many Americans are dealing with financial stress,” financial wellness expert Joyce Marter said.
You might think emotions and money don’t go together, but they often affect each other, said Lindsay Bryan-Podvin, financial therapist and founder of Mind Money Balance.
“Our money and mental health intersect because they’re two parts of our overall wellness,” said Bryan-Podvin.
Here are recommendations from experts to reduce financial stress during tax season while still getting your return done by the deadline:
Financial stress can happen all year long. While tax season is only a window of time, it comes with something that can be daunting: a deadline. Some might find a deadline motivates them to get things done, while others can feel paralyzed by it, said Dr. Tanya Farber, psychologist at McLean Hospital, a mental health facility in Massachusetts.
“If we’re overwhelmed by our anxiety, that’s where it may lead us to avoid thinking about finances or trying to avoid thinking about taxes,” Farber said.
Although you do have an option of filing for an extension, Farber doesn’t recommend prolonging the period when you have to worry about
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