Investors are placing greater importance on the tax implications of investing and support an extension of tax cuts. However, many are confused when it comes to tax efficiency and have unrealistic expectations about potential gains distributions and, therefore, need advice, according to the findings of the seventh annual "National Investor Survey" by Eaton Vance of Boston. Penn, Schoen & Berland Associates of Washington conducted the survey, polling 408 investors in both qualified and non-qualified plans in the final two weeks of November.

Nine out of 10 investors (89%) said that the impact of taxes on their investment returns is important to them, the highest percentage to say so since the survey began. Of these, 52% described the impact of taxes as very important, up from 42% the year before.

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