Here’s to a (mostly) stress-free tax day

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.

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.

Here are recommendations from experts to reduce financial stress during tax season while still getting your return done by the deadline:

Don’t avoid, plan

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 taxes. Instead, a good first step is to make a detailed plan to tackle them.

Farber recommends you break down all of the steps and start completing them one by one. A key step is to start gathering all of your documents, such as your W-2 or 1099 forms, savings and investment records, eligible deductions and tax credits, ahead of sitting down to file your taxes. Once you have a list of steps, scheduling times to complete the tasks will make it easier to build momentum.

Face your fears

For many, anxiety over filing taxes comes from fear, Farber said. Whether it’s fear of making a mistake in your return or unexpectedly owing thousands of dollars, these fears can overwhelm you to the point of avoiding even looking at your taxes.

If you identify that fear is what’s stopping you from filing, Farber recommends that you ask yourself if whatever you’re afraid of is likely to happen.

“Oftentimes anxiety is the highest when we’re assuming the worst-case scenario,” Farber said.

If thinking about your fears by yourself is not helping, Bryan-Podvin recommends you discuss them with a friend or a family member. In many cases, talking with someone else might help you focus on what might actually happen rather than focusing on the worst-case scenarios.

Focus on self care

If tax season brings a lot of financial stress for you, Bryan-Podvin recommends that you increase the amount of selfcare activities you’re doing. Activities such as taking a walk, spending time with your dog or getting enough sleep can help soothe stress.

“We are going to be doing things that are difficult and depleting and anxietyprovoking so doing more things that are restorative can help us balance that,” Farber said.

Doing restorative activities can work as a toolbox of coping skills when you’re in the middle of a stressful situation, like filing taxes.

MIKE HOUSEHOLDER — THE ASSOCIATED PRESS Greg Mahaffey, an enrolled agent with Levy & Associates Tax Consultants, works at his desk Thursday in Lathrup Village, Mich.