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How well do Americans understand their taxes?

By Jack Craver

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.

And yet, half of respondents said they 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.

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This article originally published April 8th, 2019 on BenefitsPRO