• by Jack Loechner , Staff Writer @mp_research, April 13, 2009

According to the latest data from Mediamark Research & Intelligence, despite the widespread availability of software and Internet services that assist in the preparation of income tax returns, just under 20% of U.S. adults who file Federal tax returns avail themselves of such applications.

50% of adults report that they use professional help, such as on-site specialists like H&R Block, a CPA or a tax professional, in preparing their returns. Only 13% prepare their personal Federal returns in the simplest way: personally and manually.

Tax Preparation Consumer Profile (Preparation Within Previous 12 Months)
		More or Less Likely Than "All Adults"
How Prepared	% All Adults	Men	Women	GenX	Boomers	Pre-Boomers	HH Income > $100K
Personally & Manually	13.2%	+17%	-16%	-10%	-05%	-03%	-15%
Personally w/computer software or Online program or service	19.9	+09	-08	+21	-02	-58	+26
Professional help w/on-site specialist (eg: H&R Block, CPA or Tax Professional)	50.1	-03	+03	+02	+03	+11	+02
Source: MRI Fall 2008, April 2009 Base: Adults 18+ reporting tax preparation

For instance, of those adults who file personal Federal taxes, the demographic of  Generation X (born between 1965 and 1976) are 21% more likely to use a computer or online/Internet tax preparation program or service. Moreover, filers living in households with a greater than $100k annual income are 26% more likely to use these tools for tax preparation.

Pre Boomers, born before 1946, are the most likely to use professional help. They are 11% more likely than all U.S. adult tax filers to avail themselves of professional help in preparing Federal tax returns.

Anne Marie Kelly, SVP, Marketing and Strategic Planning, MRI, notes that "... half of all adults who file personal federal taxes feel the need to pay for professional assistance despite the wide availability of software programs...  (which) speaks to the complexity of our tax code and the anxiety many taxpayers feel about tackling the forms... "

 For more information, please visit http://www.mediamark.com/.