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.