Americans Spend 6.1 Billion Hours to Do Their Taxes Each Year or 16 Hours Per Person

According to personal finance website WalletHub, Americans spend 6.1 billion hours to do their taxes each year at a cost of $233.8 billion. It averages out to be 16 hours per person at $270. Due to a lot of waste hours and loss of productivity, the IRS also offer $10,000 prize by launching a crowdsourcing challenge to help improving the tax filing process. You can find other interest highlights below:

• 30.5 Minutes: Wait time for calls to the IRS in 2015
• 62%: Of calls went unanswered in 2015
• 6.1 Billion Hours: Time it takes Americans to do their taxes each year (16 hours per person)
• 35%: Of taxpayers would rather discuss sex with their kids than do their taxes
• 27%: Of Americans would get an IRS tattoo to avoid taxes for life
• 700%+: Increase in tax-related identity theft cases since 2010
• 23%: Decrease in IRS enforcement staff since 2010

(wallethub.com)