You Were Not Alone if You Delayed Filing Your Taxes this Year

It’s possible that comments President Donald Trump made during his campaign about tax reform caused some filers to wait and see if anything would change before they filed.

For example, Trump advocated for lower tax rates for most of the top tax brackets, so some higher-income individuals may have been hoping they would get that benefit this year by waiting to book certain income.

Some filers may have been thinking, “Even if it’s a small chance, why not wait and see what will happen?” said Jonah Berger, a professor of marketing at the University of Pennsylvania’s Wharton School of Business, who studies consumer behavior.

However, a more likely reason for the delay is a law enacted in late December 2015, which impacted 2016 taxes.. It states that the IRS cannot issue a refund on tax returns claiming the Earned Income Tax Credit or Additional Child Tax Credit until Feb. 15 which may be a reason they waited.

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