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