It’s Tax Day!
Why do I feel like I age 10 years, when I have to do my taxes?? Collecting the paperwork, making the hours-long appointment to get them done, worrying I missed something and will trigger an audit!
Here’s a few stats that may put our minds at ease, or not:
— President Trump held a business round-table event in Florida yesterday. He promised that this is the last year Americans will fill out a “long, complicated, horrible” tax return. President Trump says next year’s tax preparation will consist of a one-page document.
— 49% of taxpayers would rather go to the dentist than prepare their taxes.
— Chances of being audited by the IRS… 0.8%
— National Retail Federation reveals that the average American will receive a $2,700 tax refund from the IRS this year.
— A study by the University of Toronto reveals that the number of fatal crashes jumps on days when taxes are due. Lead researcher Donald Redelmeier studied 29 years of accidents and found an average of 226 fatal accidents on annual tax-due days and 213 on other days.
— The IRS says some cranky taxpayers use Band-Aids, sewing needles and chewing gum to attach their W-2 income statements to their tax forms. One nurse reportedly attached her W-2 with a hypodermic needle while another distraught taxpayer smeared his tax return with blood and feces.
— The IRS says one out of every six Americans believes it’s ok to cheat on their taxes.
– 27% of people plan to use their tax refund to pay down debt.
Did you know you are supposed to hold on to your tax returns in case of an audit? Good news is, you only need to hang on to them for seven years. So if you are looking for a paper shredding company, check out Rocky Mountain Document Destruction.