Monday, March 30, 2009

Taxpayers’ Fears of Errors and Oversights May Be Well Founded

Last week CCH published a new tax survey, which included a lot of interesting data about how much of the tax code Americans actually understand. According to their press release, some of the most shocking findings include:

  • Less than one-fourth could identify that tax credits are generally more advantageous than deductions;
  • Only about one-third identified the child-related tax break offering the greatest savings; and
  • Less than one-half identified the education-related tax break offering the greatest savings.

You can read more details about the finding by checking out the CCH press release, or by downloading a PDF of the full study.

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