How well do Americans understand their taxes?
Millennials and Generation Z were the most likely to express confidence in their knowledge of the tax code, but how much do they know?
Half of survey respondents didn’t know how much tax was withheld from their paychecks and therefore probably wouldn’t be able to say how much they pay in taxes each year. (Photo: Bloomberg)
Taxation may be one of only two certainties in life, but many Americans know very little about how it affects them.
In a recent
survey of 1,000 U.S. adults conducted by Betterment, an online financial broker, 85 percent of Americans said they felt at least somewhat confident about their knowledge of taxes.
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