Tax Anxiety, or Something More Serious?
As the federal tax return deadline draws near, many Americans are feeling the heat. Finances are one of the most common sources of stress in our daily lives. When we combine this with the time pressure of the tax filing deadline and the uncertainties of a complex and unfamiliar process, it’s not uncommon for tax season to bring up feelings of fear, anxiety, and distress. Dr. Holly Betterly MD, Board-Certified Psychiatrist in Weston, FL, shares some signs that your tax anxiety could be representative of something more serious.
This post is provided for educational purposes only, and does not constitute medical advice. If you have questions, reach out to your doctor for more information.
Struggling with your mental health? Reach out for professional support. Dr. Betterly is a board-certified psychiatrist in Weston, FL dedicated to helping you overcome depression, anxiety, and OCD. She offers appointments at her office in Weston, FL, conveniently located in Weston Town Center, as well as via telehealth. Request an appointment today to start your journey to better mental health.
A 2025 Tax Survey by CNET revealed that around half of Gen Z and Millennial respondents reported experiencing anxiety related to filing their taxes this year. Two-thirds of survey respondents identified concerns related to filing their taxes, with a quarter of respondents reporting fears of making a mistake. Other common concerns identified by the survey include the need to track down documents, owing more money than one can afford to pay, potentially exposing one’s sensitive personal information to scammers, or simply not knowing what to do. If tax season has you feeling anxious, you’re certainly not alone!
Feeling anxious every now and then, particularly in response to specific, identifiable life stressors, is a normal part of the human experience. It’s common to feel nervous before giving a big presentation at work, taking a test, going on a first date, or, when spring rolls around- filing taxes. Normal anxiety is usually temporary, short-lived, and improves once the stressor is gone. It should not interfere significantly with your daily life.
Some people may notice, however, that taxes are just the latest addition to a long list of anxiety triggers. They may find that their worries don’t improve after tax season ends, but rather undergo a shift in focus towards a different source of stress. They may find that anxiety related to the filing process makes it difficult to stay on task throughout the day, and that they are struggling to get anything done. Some may experience severe emotional distress, or even panic attacks. If this sounds all too familiar, it may be a sign that your tax anxiety could be representative of something more serious. When worry becomes persistent, leads to significant distress, or impacts your ability to function in your day to day life, an anxiety disorder may be to blame.
Some of the signs that you may be experiencing clinically significant anxiety include:
Anxiety that is persistent, excessive, or difficult to control
Anxiety that occurs more days than not
Anxiety that spans multiple different aspects of life, such as work, school, relationships, finances, or the future
Feeling restless, irritable, agitated, or on-edge
Poor concentration
Difficulty with falling asleep or staying asleep
Muscle tension
Panic attacks
If you are concerned that you may be experiencing an anxiety disorder, reach out to your doctor for further evaluation. There are multiple effective treatment options, including therapy and prescription medications, which can help to reduce symptoms of anxiety.
For people who may already be struggling with mental health conditions, such as depression, anxiety, or OCD, an increase in stress levels can lead to a worsening of symptoms. Those living with depression may be dealing with feelings of exhaustion, fatigue, poor motivation, and impaired concentration. The process of filing taxes can feel like an unsurmountable challenge on top of a load that may already feel too heavy to bear. People living with OCD may find the tax filing process to be triggering, particularly when it brings up feelings of uncertainty, doubt, or the need to do things '“just right”. Some may find themselves stuck in a pattern of excessive checking and re-checking for mistakes in their filings, or struggling with obsessive thoughts related to potential consequences, such as an audit or financial penalties. If you find yourself feeling overwhelmed this tax season, it’s important to reach out to your psychiatrist for professional support and guidance. Don’t suffer in silence!
Stress management is important year round, but tax season can be a great opportunity to practice your healthy coping skills and make time for self care. Keeping your stress under control rather than letting it control you is key. If you find yourself getting stuck ruminating about stressors, lost in worry spirals and “what-ifs”, give yourself permission to press pause and spend some time doing something that relaxes you and brings you joy. Some ideas to get you started:
Spend time with your pet
Go for a walk
Meet up with a friend for lunch
Curl up with a good book
Listen to music
Paint, draw, or journal
Consider options that engage your mind and hold your attention so that your thoughts are less likely to wander back to the source of your worries. Meditation and mindfulness exercises can be a great way to center yourself in the present moment and build resilience. If you feel your stress levels rising, try taking some deep breaths. This activates the parasympathetic nervous system, fighting the “fight or flight” response and encouraging the body to relax.
