Tax Quiz: Can You Answer These 6 Important Tax Questions?
Written by
John Csiszar
Edited by
Molly Sullivan
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As an American, you’re responsible for figuring out your own tax liability and filing a correct return. While you can enlist the help of a professional tax advisor or accountant to help, you’ll still have to know which documents and receipts are important so that you only pay the correct amount of tax. If you choose to file yourself, then you’ll really have to be up on the most important aspects of tax law so that you both report all the income that you’re supposed to and that you also claim all of your applicable deductions.
Of course, understanding how to do your taxes and being intimately familiar with the U.S. Tax Code are two different things. The U.S. Tax Code is an extraordinarily complex document that runs tens of thousands of pages, but most of it isn’t information that the average American taxpayer will need to know to successfully file their taxes.Â
So, what exactly are the most important things that you should know to properly file your taxes? And what steps can you take during the year — long before tax time — to help minimize your tax liability when tax day rolls around in April? Take this GOBankingRates tax quiz to see if you know the answers to the most important tax questions for the average American.
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