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Interesting Facts and Stats


TAX Creep Tax Complexity!

  • For 2002 taxpayers must wade through 126 pages of instructions for the standard 1040 form, more than triple the number in 1975.
  • The current 1040A "Short" form has double the number of lines that appeared on the 1945 version of the standard 1040 tax return.
  • The 2002 1040A "Short" form instruction book at 85 pages is larger than the "Long" form 1040 instructions from 7 years ago.
  • The IRS prints at least 1,101 publications, forms and instructions, which contain 16,339 pages, up from 943 documents with 12,933 pages just two years ago.
  • Americans toil for about 6.42 billion hours on tax forms and recordkeeping, accounting for 84% of the federal government's entire paperwork burden.

    National Taxpayers Union.


For tax year 2001, government auditors who called the IRS's "tax help line" got incorrect or incomplete answers to their questions 47% of the time. Source - Forbes May 2002


The average taxpayer spends 28 hours and 6 minutes completing Form 1040 and common schedules, a 40% increase since 1997.  Source - Forbes May 2002


14,000... Number of pages in nine volumes it took CCH to print the nations tax, regulations and related material in 1954

45,662... Number of pages in 25 volumes it takes CCH today to print the nation's tax code, regulations and related material.

source - The Wall Street Journal


1867, Michigan becomes the first state to institute a property tax to support a university.


Did you know that you are in the Top 25% of Income earners if you make over $45,757?  This is single and combined (married) income

Did you know that you are  in the Top 10% of Income earners if you make over $74,986? This is single and combined (married) income

So when then talk about the rich, it may be you.


The first Form 1040 was issued in 1913.

The first Form 1040 was 4 pages long including instructions.


The word NO appears in the IRS Tax Code 2833 times

The Work Yes appears in the IRS Tax Code 0 times


Time it takes to prepare and file an IRS Form 1040.  11.34 Hours - Source Forbes October 2000

Annual Earnings  Hourly Rate Your Time to Complete 
$ 25,000 $12.50 $141.75
$ 50,000 $25.00 $283.50
$ 75,000 $37.50 $425.25
$100,000 $50.00 $567.00

Based on average work year of 2000 hours


Time the IRS says it takes to file Form 1040 - Source IRS

  • Form 1040 Only  - 13 Hours and 1 min.
  • Sch. A Itemized Deductions - 5 Hours and 37 min.
  • Sch. B Interest & Dividends - 1 Hour and 26 min.

Average Return - 22 Hours


WHEN YOU LOOK AT IT THIS WAY, GASOLINE DOESN'T
SOUND SO EXPENSIVE!!

You think a gallon of gasoline is expensive?


Diet Snapple: 16 oz for $1.29 = $10.32 per gallon
Lipton Iced Tea: 16 oz for $1.29 = $9.52 per gallon
Gatorade: 20 oz for $1.59 = $10.17 per gallon
Ocean Spray: 16 oz for $1.25 = $10.00 per gallon
Pint of Milk: 16 oz for $1.59 = $12.72 per gallon
STP Break Fluid: 12 oz for $3.15 = $33.60 per gallon
Vick's Nyquil: 6 oz for $8.35 = $178.83 per gallon
Pepto Bismol: 4 oz for $3.85 = $123.20 per gallon
White Out: 7 oz for 1.39 = $25.42 per gallon
Scope: 1.5 oz. for $.99 = $84.48 per gallon
Evian Water: 9 oz for $1.49 = $21.19 per gallon...

$21.19 FOR WATER!

So, the next time you're at the pump, be glad your car doesn't run on
Nyquil, Scope, Whiteout or plain old water!


 

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Disclaimer
We do not offer legal advice. All information provided on this website is for informational purposes only and is not a substitute for proper legal advice. If you have legal questions, we recommend that you seek the advice of legal professionals.

Tax Disclaimer: To ensure compliance with IRS Rules, any U.S. federal tax advice provided in this communication is not intended or written to be used, and it cannot be used by the recipient or any other taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on the recipient or any other taxpayer under the Internal Revenue Code, or (ii) in promoting, marketing or recommending to another party a partnership or other entity, investment plan, arrangement or other transaction addressed herein.

Copyright 2017 Wink Tax Services / Wink Inc.
Last modified: January 30, 2017