2018 Fun Tax Facts Infographic
No one likes Tax Day, except for accountants and Uncle Sam. In fact, disdain for filling out forms and forking over funds to the government drives many of us to contemplate some pretty kooky alternatives. For example, nearly one in four Americans would get an “IRS” tattoo in return for a tax-free future, while 11% would name their first-born child “Taxes.”
It’s no wonder, either. We’ve spent billions of hours preparing billions of dollars in payments since tax season began Jan. 29 . We’re grappling with a tax code that’s longer than all of the Harry Potter and Game of Thrones books combined. We’re scrambling to take full advantage of President Trump’s tax reforms. And to top it all off, Tax Day is a moving target. It’s April 17 this year because April 15 falls on a Sunday, and IRS offices are closed the following Monday for Emancipation Day in Washington, DC.
Fortunately, things tend to seem less scary the more you know about them. And while we experience Tax Day firsthand each year, there’s still plenty for most taxpayers to learn. So WalletHub explored this infamous date from top to bottom in search of the most interesting, revealing Tax Day fun facts. You can check out what we found in the infographic below, followed by a Q&A with a panel of tax experts. And if you’ve yet to file, make sure to check out WalletHub’s last-minute tax tips.
Taxes, and our obligations with respect to them, are almost like living, breathing entities. The dynamics are in constant flux, which means we can never stop learning about the process. With that in mind, we posed the following questions to a panel of tax experts in search of a greater understanding of how to successfully navigate this treacherous time of year. You can check out their bios and responses below.
- How is tax day 2018 different from past years?
- Will the extended deadline – April 17 – help reduce the number of people who file late?
- Has the amount of time and money spent preparing tax returns changed in recent years? What are some tips for reducing both?
- What impact will Trump administration’s tax reform have on economic growth?
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