Don’t like paying taxes? Here are the best places to live

Tax season is coming up, are you ready? | Adobe Stock

A recent Wallethub survey ranked all 50 states and the District of Columbia according to their tax rates. Utah came in seventh.

A recent Wallethub survey ranked all 50 states and the District of Columbia according to their tax rates.

Utah came in seventh overall for the lowest tax rate. The median Utah household pays 8.37% in total state and local taxes.

Alaska came in first, followed by Delaware, Montana, Nevada and Wyoming rounding out the top five. Illinois came in last, with the median household paying 14.96% in total state and local taxes.

Wallethub also conducted a tax survey that revealed 222 million Americans believe the government does not spend tax money wisely. The U.S. Census currently lists the nation’s population at 329 million, so according to the Wallethub survey, 67.5% of Americans are dissatisfied with how their tax money is being spent.

Thirty percent of the respondents said their greatest tax-related fear was making math mistakes. Another 30% said their biggest fear was not having enough money to pay what they owe in taxes.

“If you can’t afford your tax bill, you should file a return anyway in order to avoid penalties while you determine the best course of action for payment,” WalletHub CEO Odysseas Papadimitriou told the Deseret News.

Papadimitriou shared advice for those concerned about having the cash flow to pay what they owe this tax season:

1. File a 120-day extension and use the additional time to save money for the tax bill
2. Pay off taxes with a credit card
3. Enter into an installment agreement with the IRS
4. Take out a personal loan

from Deseret News https://ift.tt/338losW