The last thing people think about when they hear the word “Taxes” is FUN (well unless your one of RPB’s tax specialists) but here are some interesting facts

  • the standard form 1040 (individual income tax form) is a TWO page form which has ONE-HUNDRED FIVE pages of instructions
  • the US has 664,532 licensed CPA’s and a combined total 1.2 MILLION paid preparers; by comparison the US has 1.05 MILLION police/firefighters/EMT’s COMBINED
  • there were 152,544,000 individual income tax returns filed in 2016 with an average of $2,860 refund per return (that’s $317.6 BILLION in refunds!)
  • there have been 5,000 tax law changes from 2001-2012
  • the top 20% of earners in the US pay 69% of all income taxes (the top 1% of wage earners paying 43%!)
  • the IRS is very efficient; for every $100 they collect they spend only 35¢