IRS, Beware

May 1999
Journal of Financial Planning;May99, Vol. 12 Issue 5, p21
Academic Journal
This article presents the results of a survey about the views of children on taxation and on the U.S. Internal Revenue Service (IRS). A future generation of income-tax payers thinks taxes are a good thing--except when it comes to a tax on their allowance. H&R Block's third annual survey of 8- to 11-year-olds found that while 71 percent of the kids thought taxes were a good thing, half of the kids would rather go to school year-round than pay taxes on their allowance. However, the kids would be willing to pay allowance taxes to avoid giving up the television or their video games. They sound like a lot of adults we know. Seventy-three percent of the kids thought the IRS was "smart and helpful," though some thought the IRS was a "place that people get help for car crashes" or to "help people, like if they're lost." On the other hand, 38 percent of the kids said their parents get "crabby and mad" when calculating their income taxes. The survey also asked the kids which superstar would they like to pay their family's taxes. Michael Jordan was the first choice. Bill Gates was fourth on the list, right behind the Spice Girls.


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