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How much money is spent on tax preparation?


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Answered 2008-03-02 13:20:14

Individual taxpayers will spend an estimated $26.5 billion this year for tax software, tax preparers, postage, and other out-of-pocket costs, according to an August 2006 IRS regulatory filing. http://www.ntu.org/main/press_papers.php?PressID=926&org_name=NTU

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During the spring months every year all American tax payers are required by law to fill out their federal tax returns and pay any necessary tax liability. Since the tax code can be quite complicated, many people choose to pay for tax preparation. While paying for tax preparation can be expensive, many people can save money on tax preparation by using a computer preparation software. There are various tax preparation software options which will help a person automatically complete their taxes. The software can automatically download all of a tax payers pay stub information and give them a step by step instruction to maximize their tax deductions. Best of all, tax preparation software costs far less than paying for an accountant.


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