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Tax Day is less than two weeks away, and taxpayers across the country are worried. According the results of a recent survey by CCH CompleteTax, nearly two-thirds of tax filers are concerned that they might overlook tax breaks or make mistakes that could result in penalties. And it looks like they’re right to be worried.
Check out these other results:
- Less then 25% could knew that tax credits are generally more advantageous than tax deductions;
- Only about one-third could identify the child-related tax break offering the greatest savings; and
- Less than half could identify the education-related tax break offering the greatest savings.
Another scary statistic is that only about half of taxpayers are taking advantage of tax-advantaged retirement plans in 2009. To be fair, 18% of those surveyed are already retired, but… Roughly one-third of the non-retirees in the survey didn’t contribute last year, and don’t plan on doing so this year, either.
In case you’re curious, here are the full results of the survey.
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (692)
- Dish Network Customer Service SUCKS (534)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (325)
- How Much Should You Pay a Babysitter? (284)
- Ethanol Blended Gas = Lower Mileage? (272)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (228)
- Will Mac OS X Lion Kill Quicken 2007? (191)