For most people, April 15th was Tax Day. How many of us typically prepare and e-file our own tax returns?

Answer: Among those who filed electronically, over 43% prepared their own returns in 2023

Questions:

• 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? 

Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (efile.com): 

eFilers Versus Paper Filers
Tax refunds via direct bank deposit: Nearly 95.6 million taxpayers received faster federal tax refunds via direct bank deposits into their accounts through electronic transfers out of a total of 105.7 million refunds issued for 2022 Returns. The average tax refund received by direct deposit for was $3,145 compared to an average refund for all types of $3,167. Additionally, of all e-filed returns, roughly 43% of those were self-prepared returns by individual taxpayers. Did you know that, in most cases, a high refund is money you handed over to the IRS during the year that was alright rightfully yours? Increase your paycheck now instead of receiving a high refund a year later.

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.

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