Interesting Facts About the IRS

-When the IRS tax form 1040 was first introduced in 1914, it had only 3 pages including instructions. Today, it has 101 pages of instructions.

-The IRS requires you to declare all sources of illegal income (i.e. embezzlement)—they can’t prosecute you for the activity, but they can prosecute you if you don’t report the income.

-In 2014, 35% of all calls to the IRS went unanswered by the IRS customer service division.

-The IRS has instructions for employees on how to collect taxes after a nuclear war.

-The IRS had to use a special computer to process Bill Gates’ taxes because “their normal computers can’t deal with those numbers.”

-The goodie “swag” bags given to guests at the Academy Awards are so expensive the IRS requires the guests to declare them as taxable income.

-The IRS website has over 1,977 different forms and publications, and the tax code is approximately 3.7 million words in length.

-The IRS can audit you up to 3 years after your taxes were filed and up to 6 years if you underreported your income by at least 25%. If you are suspected of fraud the limit is indefinite.

Posted in Posts.