5 ways Americans cheat on their taxes
A new survey says Americans are more likely to cheat on their significant others than on their taxes, but if they do decide to fudge on something when filing, it’s only in a few areas.
Credit Karma Tax, a free tax filing website, says a whopping 94% of survey respondents say they’ve never knowingly cheated on their tax returns, with the other 6% admitting to an infringement.
The company surveyed more than 2,000 Americans and found that a majority of folks truly want to pay the right and fair amount of tax despite grumblings in the media and Washington.
“Americans overwhelmingly value honesty when it comes to filing their income taxes, even if we’re willing to cheat on our diets and other aspects of our lives,” Rick Chen, a Credit Karma Tax spokesman, told FOX Business.
While most respondents said they act in good faith when it comes to taxes, nearly half admitted to having cheating tendencies. Nearly 56% say they’ve cheated on a diet, 25% on tests or exams and 20% say they’ve been unfaithful to a girlfriend, boyfriend or significant other.
But if you’re of the 6% who do fudge on taxes, Credit Karma Tax says these are the five areas were culprits most often strike:
- 7% say they don’t report cash income or money they made under the table.
- 7% say they pad the number of dependents, itemized deductions or tax credits.
- 5% say they omit tips or gifts they received.
- 5% say they paid someone under the table or in cash and didn’t report it.
- 3% say they neglected to report gambling winnings
For more tax tips and insights, click here.