Eight Surprising Tax Facts That You Must Know

 

 

  1. Taxpayers spend $27.7 billion a year preparing their taxes. A greater portion of this spending goes to the million of accountants or Tax firms that are hired each tax season. even the head of IRS gets his taxes done by a professional.

 

  1. According to the New York Times, 80% to 95% of people who employ babysitters, housekeepers and other home aides don’t properly report it.

 

  1. S. Tax payers and businesses spend approximately 7.6 billion hours preparing their taxes. According to the U.S. If further researched it can be said that every person; man, woman and child sped approximately 24.4 hours in tax preparation.

 

  1. The tax code today is 70,000 pages long. In the eighteenth century it was only 400 pages long. Today, it’s grown to about 70,000 pages. Another count of words shows that there are approximately more than 3.7 million words in the tax code.

 

  1. In the year 2008, 500 changes were made in the tax code. Since the beginning of 2001, there have been over 3,250 changes to the tax code.

 

  1. The IRS prints 8 billion pieces of paper on average, if these pages are laid out end-to-end, it would wrap around the earth 28 times.

 

  1. IRS uses so much paper that it cis estimated that over 300,000 trees are cut every year.

 

  1. The U.S. tax code is so confusing, that 82% of taxpayers pay for help. 60% of taxpayers hire a professional accountant or tax preparer. 22% of taxpayers use some form of tax-prep software.

Call 888-557-4020 or contact us online at https://www.mytaxhelpmd.com/contact-us/

By |2016-07-23T21:07:37+00:00July 23rd, 2016|Blog|0 Comments

Leave A Comment