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What The Survey Says…

February 2, 2011

The IRS Oversight Board released a 2010 taxpayer attitude survey that says 87% of the general public view cheating on income taxes as “not at all” acceptable. I was surprised. Sadly, I thought that the number would be lower. When we discussed this in the office Chris made an interesting point: he said that he felt people are more offended about other people cheating on their taxes, more so than if they cheat themselves. Natalie feels that if there was no fear about getting caught, then many more people would cheat on their taxes. The survey goes on to say 80% believe that personal integrity has a great deal of influence on reporting and paying taxes honestly. Third-party reporting of income has a great deal of influence for 39% of the respondents, while fear of audit greatly influences 35%. When asked about the value of  paid tax professionals’ advice, 59% answered “very valuable” (compared to 53% in 2009) while 28% answered “somewhat valuable” (compared to 32% in 2009). More of the survey and previous surveys can be found at http://www.irsoversightboard.treas.gov.

At GAI (www.gunwel.com) we like to operate in a “judge-free” zone. Seriously, we are very proud of the fact that at Gunwel we have created an environment that is casual, comfortable and very professional. We want to help you with all of your financial scenarios. Give us a call at 212-979-6830 or stop by for a visit. We always conduct our own surveys and would love for you to be part of them. See you soon!

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