Home News It’s April, which means it’s once again time for Americans’ least favorite annua

It’s April, which means it’s once again time for Americans’ least favorite annua

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It’s April, which means it’s once again time for Americans’ least favorite annua

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It’s April, which means it’s once again time for Americans’ least favorite annual tradition: tax day.⁠

Every year, millions of families and individuals wade into the tangled morass of the U.S. tax code — or pay someone else to — so they can file their tax returns. Americans cumulatively spend nearly 2 billion total hours and pay more than $32 billion per year to file their taxes, according to one government estimate. It’s no surprise that three quarters of people surveyed say the complexity of the tax code bothers them.⁠

Despite these complaints, filing taxes has only grown more complicated as Congress has added more deductions, exceptions and qualification rules through the years. Tax returns have become even more elaborate in the past two years, thanks to a series of pandemic-relief programs — like the Child Tax Credit and small business loans — that must be accounted for when filing.⁠

There are plenty of examples around the world that show filing taxes doesn’t need to be so burdensome. At least 36 countries use various versions of “return-free filing” which typically put the onus on the government — not individuals — to calculate how much money residents owe.⁠

Read more at the link in our bio.⁠

✍️ : Yahoo News⁠
📸 : AP News

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