- Since 2001, there have been more than 4.500 changes to the tax code, not including the Tax Cuts and Jobs Act of 2017, signed into law December 22, 2017.
- More than one-fifth of paper tax returns contain errors. The IRS reports that while the error rate for electronically filed returns is less than 1%, paper filers are 21 times more likely to make a mistake. Errors can cause tax returns to get audited or rejected, so you’re better off filing electronically and lowering your risk.
- A good 17% of workers violate the tax code when filing their returns. The majority of the violations are treated by the IRS as honest mistakes.
- Only 30% of households itemize deductions, and that amount is anticipated to be lower because of the new tax laws taking effect with the 2018 tax filing.
- IRS employees also break the law. A 2015 report showed that almost 1,600 IRS worker willfully evaded taxes over the course of 10 years.
Source: The Motley Fool