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Interesting Tax Facts
|Tax Attorney · Villanova University School of Law · Admitted in Delaware, New Jersey, United States Tax Court|January 24, 2019|1 min read
- 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
About the Author
Gregory McCauley Jr., Esq.
Tax Attorney · Villanova University School of Law · Admitted in Delaware, New Jersey, United States Tax Court
Gregory McCauley Jr. is an experienced tax attorney who has personally represented more than 1,000 clients in matters ranging from civil tax controversy and IRS examinations to criminal tax defense, U.S. Tax Court litigation, and complex business disputes. His practice is built on a foundation his c...
