90% of Americans couldn’t answer this straightforward tax question
As tax season heats up, many Americans are still unclear as to how recent changes to the law could affect them. A 2019 survey found about 28 percent say they don’t understand the ins and outs of the Tax Cuts and Jobs Act, which passed in December 2017.
To take a closer look at what’s confusing taxpayers, financial website GOBankingRates created a four-question quiz that covers key portions of the law. A whopping 77 percent of the 501 respondents failed, assuming, the site notes, that “a passing grade means getting more than half the questions right.”
“Most Americans are in need of a refresher prior to filing their taxes,” GOBankingRates concludes. “These results appear to indicate that many taxpayers are poorly informed.”
Read more at CNBC.com.