With Tax Day just over a week away, the personal finance website WalletHub released its Tax Day By The Numbers report, which features an infographic filled with fun facts about tax season as well as insights from a panel of leading tax experts.
You can find a handful of highlights below, followed by additional taxpayer resources from WalletHub.
- 35 Cents – Cost for the IRS to collect $100 in federal revenue.
- 1 in 5 – People would get an “IRS” tattoo for a tax-free future.
- 6 Billion Hours – Total time Americans spend on their taxes each year.
- 17.8 Minutes – Average wait time when calling the IRS in 2016 (42% less than in 2015).
- 70% – Of filers get a federal tax refund ($2,897 on average).
Here are some great last minute tax tips and taxpayer resources for Americans from WalletHub as well.
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- Watch out for scams
- Have all the right paperwork
- Seek free tax advice
- Use reliable tax software
- Contribute to an IRA and/or HSA
- Assume you’re going to be audited
- Use your investing losses to your advantage
What about you? What are your favorite tax tips and taxpayer resources? I’d love to hear your thoughts?