A good deal of paperwork goes along with federal taxes here in America. This can be seen in a recent report that looked at how much time taxpayers in the U.S., in total, will likely spend on Internal Revenue Service paperwork this year.
The study, by the Tax Foundation, based its findings off of Bureau of Labor Statistics and Office of Information and Regulatory Affairs estimates. Individuals may be caught off guard by how large of a number the study’s predicted total is. The study indicated that the total amount of time taxpayers will spend on complying with IRS paperwork requirements this year is 8.9 billion hours. It estimated that 2.6 billion hours of this time will be spent on individual tax return compliance.
As these estimates point to, taxes, including individual income taxes, can have some complex requirements connected to them here in the United States.
Now, in the midst of all the paperwork one can face in relation to taxes, a taxpayer may sometimes make errors in some of their tax paperwork.
When they discover or are informed of a paperwork error they made on their taxes, a person might have a good deal of fear and worry regarding their situation. Now, while it is true that tax return mistakes can lead to a taxpayer facing some significant consequences, it is also important for taxpayers to know that they may have options available to try to resolve the issues raised by such a mistake in a way that minimizes the negative implications the mistake has for them.
Just as taxes can get complicated, addressing tax problems that have come up in connection to mistakes made on tax paperwork can also have a lot of complex aspects. So, a taxpayer facing such problems may find having an experienced and knowledgeable tax lawyer’s help beneficial when working to reach a resolution to their situation.
Source: The Hill, “Study: Complying with IRS paperwork will cost $409B,” Naomi Jagoda, June 15, 2016