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By PYM STORE

Tax-iety: 5 Fears about Taxes That Are Way Less Likely Than You Think

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For many Americans, tax season brings about so much stress and anxiety that it literally brings them to tears. In fact, nearly 1 in 3 taxpayers say the thought of filing their taxes makes them want to cry, according to research from Intuit Credit Karma.

Tax anxiety, or tax-iety, is that swirling mix of stress, procrastination, and irrational fear that something terrible is going to happen because you missed a deduction or entered the wrong number on Line 11. But here’s the thing: Most of the scariest tax fears are way less likely than you think.

Think you’re about to get audited, owe a fortune, or end up in jail? Take a breath. In this article, we’re breaking down the biggest fears—and why they’re way less likely than your anxious brain thinks.

1. "What if I get audited?!"

This is the boogeyman of tax season. We imagine the IRS showing up at our door with a suitcase full of forms and a magnifying glass. But the reality? Audits are extremely rare.

In 2022, only 0.38% of individual tax returns were audited, according to IRS data (IRS, 2023). And the vast majority of those audits were done by mail, not in person.

You're more likely to be struck by lightning in your lifetime (about a 1 in 15,000 chance) than to get audited this year.

Bottom line: If you file honestly and keep decent records, the odds of an audit are basically lottery-level low.

2. "I'm going to owe so much money and won't be able to pay it"

This fear stems from uncertainty—especially for freelancers, gig workers, or anyone without taxes withheld from their pay. But the IRS actually wants to work with you if you can’t pay all at once.

They offer payment plans, installment agreements, and even temporary delay options. Plus, over 70% of filers get a refund, not a bill (IRS, 2023). So chances are, you’re panicking for nothing.

Hot tip: Use a tax estimator or meet with a tax pro early to avoid the surprise factor.

3. "I'm going to mess it up and get thrown in jail!"

Perfectionism loves to pop up during tax season. But here’s the deal: Making a mistake on your return (like a typo or forgetting a 1099) does not mean handcuffs and orange jumpsuits. 

The IRS saves criminal charges for willful tax fraud—think: hiding income in offshore accounts, falsifying documents, or intentionally not filing for years. That’s not the same as being a human who makes a mistake, files late, or is still figuring things out.

In reality, fewer than 2,000 people per year are prosecuted for tax crimes out of the over 160 million returns filed annually (IRS Criminal Investigation Annual Report, 2022). That’s about 0.00125%.

If you file a return, respond to notices, and communicate (even if you can’t pay right away), the IRS wants to work with you—not against you.

Fact: The most common errors are things like math mistakes or missing Social Security numbers—and the IRS usually catches and corrects them without penalties (IRS, 2022).

4. "I'll be in big trouble for missing the deadline!"

First of all, take a deep breath. Missing the April tax deadline is not the end of the world—and you have options.

You can file for an extension

If you’re feeling overwhelmed or still waiting on key documents, you can file Form 4868 to get an automatic 6-month extension to submit your return—pushing your deadline to October 15. No explanation needed. No shame. Just file the form by April 15 to avoid late-filing penalties.

Important: An extension gives you more time to file, not more time to pay. If you think you owe taxes, try to estimate what you owe and send in a payment by April 15 to avoid interest and penalties.

What happens if you miss the deadline entirely?

If you miss the deadline and don’t file an extension, here’s what to expect:

  • If you’re owed a refund: You won’t be penalized at all! You have up to three years to file and claim your refund.

  • If you owe taxes: The IRS may charge a failure-to-file penalty (usually 5% of the unpaid taxes for each month your return is late, up to 25%) and a failure-to-pay penalty (0.5% per month, also up to 25%).

But here’s the real talk: the longer you wait, the worse it gets. The sooner you file—even if it’s late—the better off you are. And the IRS is generally more accommodating than people think, especially if you’re proactive.

5. "It's going to take forever and I'll never understand it"

Tax forms can feel like a foreign language, especially if you’re self-employed, bought a house, or had a baby this year. But you don’t have to figure it all out alone.

Hiring a tax professional or using guided tax software can save you time, money, and emotional energy. And starting early—like, February instead of April 14th—gives you time to ask questions and breathe between steps.

How to Ease Tax-iety (Without Just Ignoring It)

So now that we’ve reality-checked your biggest tax fears, let’s talk strategy. Because knowing the stats helps—but stress still lives in your nervous system. Here’s how to support it:

Start early

Avoid the last-minute scramble. Set aside time to gather documents, check your records, and make a plan. Momentum is a great antidote to anxiety.

Work with a professional

A CPA, EA, or tax prep software can clarify things and help you avoid errors. Plus, they’ll know which deductions you qualify for—which can mean money back in your pocket.

Support your stress response

Knowing the truth about tax fears is helpful—but let’s be real: your nervous system doesn’t always get the memo. Even if the rational part of your brain knows you’re probably not getting audited, the emotional part might still be spiraling. That’s where supporting your stress response comes in.

Enter: GABA and L-Theanine.

These two amino acids are like a deep exhale for your brain. They're naturally found in the body (and in tea, in the case of L-Theanine) and have been shown in multiple studies to reduce stress, ease anxiety, and promote a calm, focused state without sedation.

🧠 GABA (Gamma-Aminobutyric Acid)

GABA is your brain’s main inhibitory neurotransmitter—it helps slow down excessive neural activity, kind of like putting the brakes on mental overdrive. Low levels of GABA have been linked to heightened anxiety, tension, and even panic attacks (Cryan & Kaupmann, 2005).

Supplementing with GABA has been shown to:

  • Reduce psychological and physical markers of stress within an hour (Yoto et al., 2012)

  • Promote calm focus, not grogginess

  • Support better sleep—something tax stress can definitely disrupt

A 2012 study found that participants taking GABA had significantly lower levels of cortisol (your primary stress hormone) after a stressful task compared to placebo (Yoto et al., 2012).

🍵 L-Theanine

L-Theanine, found naturally in green tea, promotes what's known as alpha brain waves—the kind you experience when you’re calm but alert. Think: focused but not frazzled.

Research shows that L-Theanine can:

  • Reduce anxiety in stressful situations (Kimura et al., 2007)

  • Improve mental clarity and attention during cognitive tasks (Gomez-Ramirez et al., 2009)

  • Boost serotonin, dopamine, and GABA—all the “feel good” brain chemicals

Even better? A growing body of research suggests that GABA and L-Theanine both work on similar calming pathways in the brain—and some early studies suggest that combining them may enhance their effects. While more research is needed on the combo, both have individually been shown to reduce stress and support mental clarity (Yoto et al., 2012; Kimura et al., 2007). So if you’re looking for natural support during a week of receipts and spreadsheets, this is a power duo worth considering.

Chill out with PYM Mood Chews

PYM Mood Chews were formulated by neuroscientists and psychiatrists with 130mg of GABA and 90mg of L-Theanine in delicious, safe, and effective chewable form. Perfect for post-taxing relaxing to calm the mind and body.

TL;DR:

You’re not lazy. You’re not bad with money. You’re just human—and taxes are overwhelming. Support your whole self this season: start early, get help where needed, and give your nervous system the tools it needs to stay grounded. GABA and L-Theanine are research-backed ways to do just that—without numbing out or crashing.

Nothing in this article should be taken as tax or legal advice.

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