Press Release

Tax Day 2018 Compliance Costs Approach $200 Billion

New American Action Forum research released today shows cumulative monetized Tax Day costs for 2018 have approached $200 billion, a 14 percent increase over last year. Additionally, data from the Office of Information and Regulatory Affairs shows the estimated time burden to complete IRS forms remains unchanged from 2017 at 8.1 billion hours and the monetary costs for completing this paperwork is $85.6 billion as estimated by the Internal Revenue Service.

Below is a round up of AAF’s key findings for Tax Day 2018.

Forms: 1,186
Hours: 8.1 billion
Average Hours Per Paperwork Submission: 11.8
Total Projected Cost: $194.3 billion

Click here to read the research