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  • 90% of Americans couldn’t answer this straightforward tax question

90% of Americans couldn’t answer this straightforward tax question

  • March 29, 2019

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.

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