Taxpayer Search for Information: Implications for Rational Attention
Jeffrey Hoopes (),
Daniel Reck and
Joel Slemrod ()
No 19482, NBER Working Papers from National Bureau of Economic Research, Inc
We examine novel data on searches for capital-gains-tax-related information to determine when and how taxpayers acquire information. We find strong seasonal increases in information search around tax filing deadlines, suggesting that taxpayers seek information to comply with tax laws. Positive correlations between stock market activity and information search and year-end spikes in information search on capital losses suggest that taxpayers seek information for tax planning purposes. Policy changes and news events cause noteworthy information search. Overall, these data suggest that taxpayers are not always fully informed, but that rational attention and exogenous shocks to tax salience drive taxpayer information search.
JEL-codes: D80 D83 H24 H31 (search for similar items in EconPapers)
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Published as Jeffrey L. Hoopes & Daniel H. Reck & Joel Slemrod, 2015. "Taxpayer Search for Information: Implications for Rational Attention," American Economic Journal: Economic Policy, American Economic Association, vol. 7(3), pages 177-208, August.
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Journal Article: Taxpayer Search for Information: Implications for Rational Attention (2015)
Working Paper: Taxpayer search for information: implications for rational attention (2015)
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