Tax Time can be very stressful. Here are 10 Tax Time Facts that can bring you harmony and ease your mind:

  1. The IRS has issued 7.6 million refunds worth $26.8 billion
  2. The average refund is $3,120
  3. There are 4 million words in the U.S. tax code
  4. The average IRS hold time – 28 minutes (10 minutes in 2010)
  5. $21 Billion in Expected IRS losses due to tax fraud in 2016
  6. 5 Thousand changes in tax code since 2001
  7. 7 weeks – the estimated timetable for refunds from paper returns
  8. 80% of returns are filed electronically
  9. The IRS has a smartphone application called IRS2Go to check refund status and get tips and assistance
  10. 80% of U.S. tax filers get a federal tax refund

 

10 Facts to Bring Harmony During Tax Time Infographic

SOURCES:

The Internal Revenue Service
The Washington Post
Congressional Budget Office
The Center on Budget and Policy Priorities
The Tax Foundation
WalletHub.com