As the Deadline Approaches, Let’s Look at Taxes by the Numbers
If this is the first you've even thought about Tax Deadline Day, then feel free to panic and stress out. I'll wait.
Okay, you good?
If you're looking for something to make you feel better, maybe knowing you have until the 18th, instead of the usual 15th of April will help. Probably not. We Americans hate tax time, as survey after survey will attest.
My dad used to say the more you know about something, the less scary it will seem. I've found that to be true for the most part, with the exceptions being parenthood, getting a colonoscopy, and paying taxes.
The numbers-crunchers at WalletHub took a look at all the facts and figuring that goes into our least-favorite national pastime:
- $1.62 trillion is the estimated revenue from individual income taxes in 2016
- 92% of all federal revenue is brought in by the IRS
- 200 million is the number of Americans who "interact" with the IRS. 3 times more than any other federal agency
- 30.5 minutes was the average wait time experienced by someone calling the IRS in 2015
- 62% is the number of calls last year to the IRS that went unanswered
- 1000 is the number of temporary employees hired by the IRS this year to help improve phone service
- 6.1 billion hours is how much time Americans will collectively spend preparing their taxes this year, at a cost of approximately $233.8 billion
- 60 is the percentage of taxpayers who seek professional help with their preparation
- 27 is the percentage of Americans who would get a tattoo that reads "IRS" to avoid paying future taxes
- 11 is the percentage of Americans who would scrub toilets at Chipotle for 3 years to avoid future taxes
- $2,945 is the average refund amount
If you're thinking, "I don't hate paying taxes that much," check this out: