Friday, October 1, 2010

15 Intersting Facts About the IRS

1. President Abraham Lincoln created the IRS during the Civil War to help pay for the military expenses.
Good Old Abe

2. The initial income tax was a mere 3% tax on individuals making over $800. Nowadays the top tax bracket consists of a 35% tax.

Rip Off! So that's why we are poor!


3. When it was first created, the IRS was known as the Bureau of Internal Revenue, it wasn’t until the 1950’s that the name was changed to the Internal Revenue Service.

4. Over 229 million income tax returns were filed with the IRS in 2006.

Wow that a lot!


5. In 2006, the IRS collected over $2.2 trillion, with $1.2 trillion coming from just income taxes.


6. Prior to the introduction of the Taxpayer Bill of Rights in 1998, the burden of proof was put entirely on taxpayers, meaning taxpayers had to prove themselves innocent.

Yes you now have some rights:


7. The IRS sends out an average 8 billion page of paper every tax season. If all the pieces of paper were laid out end-to-end, it would wrap around the earth 28 times.


8. In order for the IRS to print the necessary forms and documents on paper over 300,000 trees must be cut down every year.

What happened to going green? Save the trees


9. The federal government spends $200 billion per year on federal tax compliance, which is more money than it takes to produce every vehicle in the United States.

Yeah they audit like Crazy!


10. The IRS employs over 114,000 individuals, which is over double as many as the CIA and five times more than the FBI.



11. The United States tax systems is widely known for being confusing and difficult to understand. As such over 60% of seek professional help preparing their tax returns.

Yes that's why you should hire me ;)


12. The average family pays over 38% of their total income to the IRS, which is more than the average family spends on food, clothing, and shelter combined.

Food BAD, Taxes GOOD. I kidd



13. The federal government spends about $10 billion per year to pay the IRS’s 114,000 employees.


14. The IRS has a whistleblowers program designed to help catch tax evaders. In 2005 they paid over $27 million to informants which resulted in nearly $350 million in revenue.


Those jerks!



15. Tax Day, the date when tax returns must be filed with the IRS typically falls on April 15th. However, if the 15th falls on a weekend or holiday, Tax Day is moved to the next business day.

3 comments:

  1. Hi, nice to see another EA on Blogger-- I'm in South Sac, too. Small world. Oct 15th is almost here, and my stragglers are almost done for the year. Then it's vacation time until next Jan!

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  2. Yes it's crunch time for me this week but vacay until Jan after this. EXCITED ;)

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  3. Thanks for sharing useful information. Indeed IRS Settlement was a big pain and it almost screwed my future, poor credit score and all worse that can happen. Still i was lucky to find few experts that helped in my irs debt settlement, irsmedic.com were experts and help me in IRS settlement quickly. I was helped, hope you will too.

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