We're headed into the final weekend before the deadline to file individual taxes on Monday. There's been a flurry of tax news, including some interesting stats. Additionally, Financial Literacy Month made the limelight in a CNBC feature this week. 

All Things Taxes

According to a new study, the average American pays $524,625 in taxes in their lifetime. The state with the highest tab? New Jersey at $987,117. (USA Today)

This year, the IRS is piloting a Direct File program in 12 states, which allows taxpayers to file their returns online with no third-party service and no extra charge. (U.S. News & World Report)

About 25 percent of Americans say they have anxiety about getting audited, but what are the odds? About one in 500 according to the most recent data from the IRS. The rate has been declining for years. 

The people most likely to be audited? Those with annual incomes over $10 million and low- and moderate-income taxpayers who claim the Earned Income Tax Credit. (CBS News)

If you've got a child in college, you'll want to double check both their and your taxes before submitting them. It's particularly critical that university students understand whether or not their parents are eligible to claim them as a dependent. Moreover, there are education tax credits to claim and state residency to consider. (Associated Press)

While nearly 60% of Americans think middle-income households have the highest tax burden, only 18% correctly identified that high-income households actually have the highest. Only about 27% of taxpayers believe their federal income taxes are fair. (CBS News)

The majority of people (96.7%) file their taxes electronically. By the end of March, the IRS had received nearly 90 million returns and expects another 50 million more in the final two weeks. (NPR)

>Check out our newest activity - Tax Return Rescue: The Case of the Scattered Digits

#FinLitMonth News

This week on Squawk Box, personal finance correspondent Sharon Epperson highlighted the value of a financial education. You may see a familiar face in the video below. (CNBC)

About the Author

Hannah Rael

As NGPF's Marketing Communications Manager, Hannah (she/her) helps spread the word about NGPF's mission to improve the financial lives of the next generation of Americans.

More posts by Hannah