AUGUSTA, Ga., Jan. 26, 2026 /PRNewswire/ — A new national survey commissioned by TaxSlayer and conducted by Talker Research reveals that, although many Americans know that significant tax changes are taking effect this year, most are unsure how it will affect them. While 46% of respondents are aware that new rules apply under the One Big Beautiful Bill (OBBB), also known as the Working Families Tax Cut, more than half of that group (56%) say they don’t understand what the changes mean for their individual tax situation.
The study found that 84% of Americans pay attention to updates in tax law, yet only 55% actively research what those changes involve. Another 41% say they do “little to no” research at all. Even with limited understanding, 67% believe the new laws will affect them personally, and one in five expects a significant impact. Participants were most familiar with deductions for tips and overtime, the increased Child Tax Credit, and the elimination of certain energy‑efficiency and EV credits.
According to the study, confidence in general understanding of taxes varies broadly. Fifty‑nine percent say they have a basic grasp of how income taxes are calculated, but just 16% of women and 25% of men feel highly confident in their tax knowledge. Gen Z respondents reported the strongest understanding, with 31% saying they understand taxes “very well.”
“What we’re seeing is a clear gap between knowing tax laws are changing and understanding what those changes actually mean. That’s why accessible, reliable guidance is so important right now,” said Seth Babb, Head of Consumer Products at TaxSlayer. “Our goal is to equip taxpayers with tools to help them make sense of their situation and file with confidence, including navigating new changes under the OBBB. That confidence is especially important as people start thinking about their refund and what it means for their finances this year.”
Interestingly, most taxpayers surveyed expect little difference in what they owe or receive this year compared to last – despite the tax changing tax laws. Over half (52%) believe both their tax bill and refund amount will remain about the same. Specifically, respondents expect an average refund of $1,662 – slightly below last year’s expectations.
When it comes to how they intend to use their refunds, 57% of respondents plan to put their refund toward necessities, including groceries, rent and utilities, credit card debt, savings, and home repairs this year. Only 8% expect to spend their refund on luxuries.
Talker Research conducted the online survey of 2,000 U.S. taxpayers with internet access between November 13 and November 17, 2025. To learn more about Talker Research’s methodology, visit https://talkerresearch.com/methodology/.
About TaxSlayer
TaxSlayer is an easy-to-use online tax filing platform with unlimited support at a fraction of the cost of the competition. Trusted for over 60 years, the Augusta-based tech company successfully completed more than 12 million federal and state e-filed tax returns in 2025 and processed over $23 billion in refunds. With over 30,000 reviews on consumer review site Trustpilot, 82% of customers rate TaxSlayer Great or Excellent. On top of ensuring 100% accuracy, TaxSlayer has a maximum refund guarantee and is committed to providing the right tools at the right price. For more information, visit www.taxslayer.com. Or find us on Facebook, LinkedIn, Instagram, and X.
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SOURCE TaxSlayer
