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