Question of the Day: What percent of U.S. taxpayers prepared their own tax returns?
April 18th was Tax Day, so how many of us were on the ball in e-filing our own taxes?
Answer: About 61%
- What do you think are the pros/cons of preparing your own tax return?
- Do you hope to be able to file your own tax returns in the future? Why or why not?
- If you have already filed your own tax returns, how would you describe the process you went through to make this happen?
- What are resources that you can use to answer questions you have about filing tax returns?
- If you use a tax preparer (accountant), do you think it's still important to understand details about your tax return?
Behind the numbers (efile.com):
So far for 2021 Returns filed and e-filed in 2022, the IRS has issued around 52 million refunds as of March 8, 2022. Around $171 billion has been issued for an average refund amount of $3,305. Around 50 million of these refunds were sent via direct deposit. Additionally, of all e-filed returns, roughly 51% of those were self-prepared returns by individual taxpayers.
Teach your students how to file the 1040 using NGPF's Activity, CALCULATE: Completing a 1040