2018 Tax season research – released by WalletHub

 tax cloud for tax season
With Tax Day looming large and sweeping tax reform passed in recent months, our friends at WalletHub shared with us their 2018 Taxpayer Survey and yearly Tax Rates by State report to help taxpayers better understand taxes during this confusing time of the year.

About the Taxpayer Survey

WalletHub’s Taxpayer Survey features a wide range of fun facts about people’s opinions on tax prep, the IRS and more. The tax rate report also compares the cost of the average person’s various obligations in the 50 states and the District of Columbia. The survey found that states with no income tax are not always the cheapest overall, as they tend to have higher sales and property taxes.

Find more highlights from both below, followed by the full list of WalletHub’s 2018 taxpayer resources:

2018 Taxpayer Survey

  • Fewer than 4 in 10 people are happy with President Trump’s tax reforms. 69% of people think the reforms are better for corporations than consumers, and 67% think they benefit the rich more than the middle class.
  • 90% of people think the government does not spend well their tax dollars wisely.
  • 30% of people fear making a math mistake for Tax Day , edging out not having enough money (29%) atop the list.
  • 37% of people would move to a different country for a tax-free future. 24% would get an “IRS” tattoo, 22% would switch political parties, and 15% would take a vow of celibacy.
  • 29% of people like their in-laws more than the IRS, 13% prefer cold showers, and 9% would take a traffic jam.

 

States with Lowest Tax Rates States with Highest Tax Rates
1 Alaska 42 Michigan
2 Delaware 43 New Jersey
3 Montana 44 Iowa
4 Nevada 45 Ohio
5 Wyoming 46 Wisconsin
6 Tennessee 47 Rhode Island
7 Idaho 48 New York
8 California 49 Nebraska
9 Florida 50 Connecticut
10 South Carolina 51 Illinois

WalletHub’s 2018 Taxpayer Resources

  1. What To Do If You Can’t Pay
  2. Pros & Cons Of Paying With Credit
  3. Tax Scams & Tips for Avoiding Them
  4. Last-Minute Tax Tips
  5. Property Taxes by State

 

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