#United States #Augusta #TaxSlayer #Talker Research #Working Families Tax Cut

Survey Insights on Tax Changes Among Americans

A recent survey commissioned by TaxSlayer and conducted by Talker Research sheds light on American taxpayers' expectations for significant tax changes coming in 2026. Despite awareness of impending changes, many remain confused about how these new regulations will affect their individual tax situations. The survey indicates that while 46% of respondents are conscious of the new rules introduced by the One Big Beautiful Bill (OBBB), also referred to as the Working Families Tax Cut, over half of this group (56%) admit they don't comprehend the implications of these changes on their personal taxes.

Interestingly, 84% of Americans express a general interest in tax law updates, yet only 55% actively engage in researching what these changes entail. A notable 41% reported doing little to no research at all regarding the adjustments to taxation. In a surprising finding, although many taxpayers expect significant changes, 67% believe these new laws will have a personal impact, with one in five expecting major consequences. The areas of tax law respondents felt most familiar with include deductions for tips and overtime, the enhanced Child Tax Credit, and the removal of certain energy-efficiency and electric vehicle credits.

The survey revealed varying levels of confidence among individuals regarding their understanding of tax legislation. While 59% believe they have a foundational knowledge of income tax calculations, only 16% of women and 25% of men feel very confident in their understanding of tax laws. Notably, respondents from Gen Z displayed the greatest confidence, with 31% indicating they understand taxes