Do you understand how taxes work? Test your knowledge to achieve your financial goals with this quiz
This quiz is brought to you by the American Institute of CPAs (AICPA) 360 Degrees of Financial Literacy program, which provides free, unbiased advice from the nation's CPAs.
In 2019, more than 150 million Americans filed individual income tax returns. It's natural that many people may focus on taxes when preparing their return for the IRS and then "file it and forget." And for something that's "certain" – there is a lot of uncertainty surrounding taxes.
By developing a better understanding of how taxes work and your personal tax situation, you'll be more informed as you work towards your financial goals – whether that's saving for retirement, paying off student loans or purchasing a home. Your tax return can serve as a roadmap for making better financial decisions and lowering the amount of taxes you'll pay down the road.
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