Tax Filers Season
About Tax Filers Season
The US tax filing season runs from January to April 15 each year. Approximately 160 million individual tax returns are filed annually. The deadline of April 15 has been in place since 1955. Taxpayers can file electronically or by mail. Approximately 90 percent of returns are now filed electronically. The IRS processes most refunds within 21 days. The Earned Income Tax Credit, a refundable credit for low income workers, lifts approximately 5 million people out of poverty annually. The tax filing process has been criticized for complexity. Americans spend approximately 6.5 billion hours annually on tax compliance. Attempts to simplify the tax code have generally failed, as each provision has constituencies who benefit from it.
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