MIG Reports analysis of what Americans are saying online about their tax returns reveals mixed sentiment, however, general dissatisfaction. Many taxpayers express frustration and confusion over the complex tax filing process. Some suggest the system is designed to benefit the wealthy and corporations over average citizens. While there is appreciation for the various resources and services available to assist with tax preparation, smaller tax returns this year, amid overarching economic concerns, diminish the overall mood during tax season.

Sentiment seems to vary by political affiliation. Republicans tend to have a more positive view of the tax return process, citing the Tax Cuts and Jobs Act of 2017 as beneficial for lowering tax rates and simplifying the process. This Trump-era Act was the only noticed bright spot throughout the online discussions. Democrats, on the other hand, feel the tax cuts disproportionately favor the wealthy and corporations, leading to a more negative sentiment.

As Tax Day approached, online conversations increased to their highest point in the tax season, while sentiment dropped to its lowest point.

Demographics

Economic classes play a role in shaping sentiment. Lower and middle-class taxpayers often express frustration over the perceived unfairness of the tax system, feeling that they shoulder a disproportionate burden. Wealthier taxpayers, while also expressing some dissatisfaction with the complexity of the tax process, generally show a more positive sentiment due to the financial benefits they receive from tax cuts. Although, in general all Americans seem concerned about the economy and maintaining their standard of living.

Age also affects sentiment towards tax returns. Older taxpayers, who are often more acquainted with the tax filing process, show less frustration compared to younger taxpayers who may be navigating the process for the first time. The sentiment among different racial groups seems to be mixed, with no clear patterns emerging.

Geographically, there is less sway in discourse and sentiment; however, taxpayers in states with higher state and local taxes, such as California and New York, express more dissatisfaction due to caps on state and local tax deductions.

Overall, while there are resources available to help Americans with their tax returns, sentiment leans negative, with calls for a simpler, more equitable tax system. There is also an undercurrent of concern that tax dollars are not being used efficiently.