By Sam Kunjukunju
In 1789, Benjamin Franklin famously said, “In this world, nothing is certain, except death and taxes.” While Franklin made this observation to a French scientist in a letter about the permanency of the U.S. Constitution, he had a good point. And while most of us would rather not dwell on either topic, taxes are one of those things we can’t escape. So let’s talk about them.
For many adults, tax season begins with the start of each new calendar year. For others, it doesn’t truly begin until far closer to April 15, when Tax Day looms large and a last-minute scramble kicks in. Either way, this time of year tends to bring a mix of anticipation, frustration and, let’s be honest, a little chaos. And that’s not surprising when we look at the state of tax literacy around the country.
In December 2024, the Tax Foundation, a nonprofit organization focused on advancing tax policies that promote economic growth and opportunity, ran a nationwide poll on tax literacy. The results were eye-opening. Half of the respondents did not know the basics about taxes, and only 2% displayed tax proficiency regardless of their level of education.
At the ABA Foundation, we are committed to changing this reality. We aim to inspire, equip and empower banks of all sizes and charters to help build thriving and resilient communities across the nation. One of the ways we advance our goal is by offering free financial education resources designed to instill foundational skills and confidence in people of all ages. Since improving tax literacy is such a necessity, we are teaming up with the Tax Foundation to help address this gap.
In 2026, we are expanding our Get Smart About Credit campaign, an initiative that provides free turnkey resources for banks to educate teens and young adults (ages 13-30), with new materials that break down the fundamentals of the American tax system. New resources will be focused on understanding tax basics on what people earn, buy and own, as well as looking at tax brackets, debunking common myths and providing answers to frequently asked questions. By equipping current and future generations with core tax fundamentals, we can collectively help reduce confusion, foster confidence and help enable people to make informed financial decisions long before Tax Day rolls around.
To explore all the educational tools and programs available to improve financial capability in your bank’s footprint, register for free at aba.com/FinEd. And if you have ideas or want to request new materials, connect with us directly at [email protected].
Sam Kunjukunju is VP for consumer education and community engagement at ABA.
