There are 4 weeks until the tax deadline. What filers need to know

There are 4 weeks until the tax deadline. What filers need to know  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, MAR 23, 2022 YOUR WEALTH Editor's Note Are you one of those procrastinators who still hasn't filed their taxes? Well, you may take some comfort in knowing you are far from alone. In fact, as many as 33% of Americans wait until the very last minute. The reasons taxpayers put it off vary — 40% say filing is too time-consuming, 22% said it's too stressful and another 22% want to make sure they're filing correctly. Taxpayers just go into avoidance mode, particularly if they think they might own money, certified financial planner Phyllis Jo Kubey explained to CNBC's Kate Dore. "And I think that is absolutely the worst strategy," she said. No matter the reasoning for the delay, it's now time to get off the couch, turn off the TV, put the ice cream back in the freezer and get working on those taxes because the clock is ticking. There's less than four weeks until the April 18 tax deadline. If procrastinators need some motivation, here are a few things to consider: Even if you owe money, it's important to send your return on time or file for an extension to avoid the failure-to-file penalty, which is 5% of unpaid taxes for each month until filing, capped at 25%. By comparison, the failure-to-pay fee is 0.5% per month, plus interest. What's more, while an extension prevents the failure-to-file penalty, you'll still need to pay taxes owed by April 18 to avoid extra penalties and interest. The bottom line: Delaying or not filing at all is a bad strategy. For more cool stuff like this, be sure to visit CNBC's Financial Advisor Hub and CNBC + Acorns Invest in You: Ready. Set. Grow. Jim Pavia Money Editor @JIMPAVIA There are 4 weeks until the tax deadline. What filers need to know There are four weeks until the federal tax deadline, which is April 18 for most Americans. Here's what to know if you haven't filed. 46% of taxpayers plan to save their refunds this year So far, the average tax refund is $3,401, nearly 14% higher than last year, according to the IRS. The Great Resignation continues, as 44% of workers look for a new job Higher pay was the top reason workers said they'd take another job, according to a survey. Health benefits, job security and flexible work are also factors. Buying your first home? Here's what you need to know People looking to buy a home for the first time face a steep learning curve. Here are some of the basics from experts in the field. Odds are, you're better off buying an index fund. Here's why The returns of four out of five actively managed U.S. stock funds lagged in 2021, according to S&P Dow Jones Indices. Financial advisors are still reluctant to use cryptocurrencies. Investor demand may change that About 45% of advisors expect to use cryptocurrencies in the future in response to client requests, according to a report from Cerulli Associates. Americans are pausing investments because of the Russia-Ukraine war. Here's what it could cost them The ongoing Russia-Ukraine war is hurting Americans' financial outlook, causing many to pause investing, according to a survey. Here's why that's a problem. Op-ed: Why investors should care about who owns their advisor's firm There are many factors to consider when selecting a financial advisor, from acumen to personal chemistry. Also important: who actually owns the advisor's firm. Here's why you should start paying off debt now — and how to get started The danger comes from interest rate hikes occurring several more times over the next few months and potentially in bigger chunks. Here's what the Fed's rate hike means for borrowers, savers and homeowners After holding rates near rock bottom for two years, the Fed is finally boosting its benchmark. Here's what that means for you. CONTRIBUTORS Sharon Epperson @sharon_epperson Josh Brown @ReformedBroker Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS