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Also consider the cost per taxpayer. At $187 million that's roughly $1 per person. For someone making the average income, it costs them maybe $0.15 in taxes f
by welshwelsh 4y ago
Also consider the cost per taxpayer. At $187 million that's roughly $1 per person. For someone making the average income, it costs them maybe $0.15 in taxes for ID.me.
The IRS estimated that the average taxpayer spends $240 and 13 hours of time on their taxes. Multiply by 157 million taxpayers and that's $37 billion and 2 billion hours of labor. Although likely skewed by a small % who hire professionals, plenty of people spend $100+ on services like TurboTax.
The IRS spending a couple billion to make the tax process a little bit easier is really not a big deal. $187 million is nothing, and if that's all it costs to streamline their ID verification process, then it means the government is much more efficient with our tax dollars than people give it credit for.