| 000 -LEADER |
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| fixed length control field |
01702nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
210719b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Lyon, Elizabeth and Catlin, J. R. |
| 245 ## - TITLE STATEMENT |
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| Title |
Consumer misconceptions about tax laws: Results from a survey in the United States |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
Journal of Consumer Policy |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
43(4), Dec, 2020: p.807-828 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
A survey of 1,131 consumers in the United States identified substantial gaps in knowledge or literacy with respect to fundamental U.S. tax law concepts of withholding and tax liability, tax brackets, tax deductions versus credits, charitable contributions, income and exclusions (gifts), and payroll/self-employment tax. Rates of misunderstanding of each concept ranged from 30% to 79%. Regression analysis suggests tax literacy was higher among males and consumers who were older, more educated, and had higher household incomes. Self-reported tax knowledge was weakly correlated with objectively measured knowledge (r = .37, p < .001), suggesting respondents had limited ability to estimate their own literacy of tax concepts. Tax literacy was significantly, but relatively weakly correlated with a more general measure of financial literacy suggesting that tax literacy is a related, yet distinct component of a consumers’ overall financial proficiency. These findings have important implications for consumer welfare via potential impacts on everyday consumer decisions and public discourse. – Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Tax law, Tax policy, Consumer knowledge, Tax literacy, Financial literacy, Survey |
| 9 (RLIN) |
25405 |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
Journal of Consumer Policy |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
CONSUMERS - UNITED STATES |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
