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Sequestration weighs heavily on Americans this tax season

^{Published on 2013-04-01 12:45:53 - Market Wire}
 

Sequestration weighs heavily on Americans this tax season -- NEW YORK, April 1, 2013 /PRNewswire/ --

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NEW YORK, April 1, 2013 /PRNewswire/ -- In a new nationwide survey conducted by TheStreet 's (NASDAQ: [ TST ]) [ MainStreet.com ]site and GfK¹ over 20% of Americans are concerned there could be a problem in obtaining tax forms and 31% feared a delay in receiving a refund due to the sequestration brought about by the budget cuts that began on March 1, 2013.

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"I don't think many people really understand how their lives are impacted," says Kit Yarrow , consumer research psychologist and professor at Golden Gate University. "Already trust in the government is abysmal, and I think it's been compounded by the politicizing and lack of clarity about the ramifications of the sequester."

Read Ross Kenneth Urken , MainStreet's personal finance editor, [ analysis of the survey featuring expert commentary here ].

Key survey findings:

• One in five Americans (18%) have perennial fears of an IRS audit
• Of the 14% of Americans who claim to have filed taxes late, 32% of those say it was due to disorganization 29% due to an untimely emergency or unforeseen complication right at tax time and almost 29% due to procrastination
• If Americans received an unexpected large tax return, 30% would save or invest it, almost 27% would put it in an emergency fund for unexpected problems related to health or employment and 17% would use it for home improvement projects or new furnishings

For a complete look at the results, [ view the accompanying infographic. ]

¹ GfK Custom Research North America, March 2013

About the Survey
Results contained in this report are based on a survey conducted by TheStreet and GfK Roper Public Affairs & Corporate Communications. Telephone interviews were conducted from March 15-March17, 2013 among a total of 1,006 adult Americans. The margin of error for this study is +/- 3 percentage points for the sample.

About TheStreet
TheStreet, Inc. is a leading digital financial media company that distributes its content through online, social media, tablet and mobile channels. The Company's network of brands includes: TheStreet, MainStreet, RealMoney, Stockpickr, Action Alerts PLUS, Options Profits, Chat on TheStreet, and RateWatch. For more information on TheStreet's business, visit [ www.t.st ]. For financial and business news, actionable trading ideas, stock quotes and more, visit [ TheStreet.com ], follow TheStreet on Facebook and Twitter, and access TheStreet through all major mobile and tablet platforms. For more information on The Deal, visit [ www.thedeal.com ].

Contact:
Erin Corcoran
TheStreet, Inc.
212-321-5566
[ erin.corcoran@thestreet.com ]

SOURCE TheStreet, Inc.