Most Americans expect 2026 tax hit but don’t know details – survey

Core Insights - A significant portion of Americans (67%) anticipate that upcoming tax law changes will personally affect them in 2026, although many lack clarity on the implications of these changes for their finances [1][3] Awareness and Understanding - 46% of surveyed individuals are aware of the new provisions under the One Big Beautiful Bill (OBBB), but 56% of this group do not understand how these changes apply to their tax situation [2] - Overall, 84% of respondents pay attention to tax law shifts, yet only 55% actively seek specifics, with 41% doing little to no research on tax changes [3] Confidence in Tax Knowledge - Respondents reported varying levels of confidence in their tax literacy, with 59% feeling they have a basic understanding of income tax calculations, but only 16% of women and 25% of men consider themselves highly confident in their tax knowledge [4] - Younger adults, particularly 31% of Gen Z participants, are more likely to claim a strong understanding of the tax system [5] Expectations and Financial Planning - Despite the anticipated reforms, over half (52%) of respondents expect their tax liability and refund this year to be similar to last year's amounts [5] - On average, taxpayers forecast a refund of $1,662, which is slightly lower than the previous year's expectations, with 57% planning to use their refund for essential expenses rather than discretionary purchases [6]