In horror movies, monsters grow to gigantic proportions and terrorize island nations while people run screaming in panic. The citizens of the nation watch in horror as their cities and towns are demolished under the fury of a monster that won’t stop growing.
While that might be entertaining fare for some (but not necessarily me), tax payers face a similar monster that grows and grows and grows. The IRS Income Tax Form 1040. This form is the starting form for individual federal income tax and has been published annually since 1915. (Read more about it at Wikipedia).
Now here’s the scary part. This form is huge and it’s growing. The chart below shows just how big it’s getting.
- In 1965, Income Tax Form 1040 was 17 pages long.
- In 1975, Income Tax Form 1040 was 39 pages long, more than double the length of the 1965 version.
- In 1985, Income Tax Form 1040 was 52 pages long.
- In 1995, Income Tax Form 1040 was 85 pages long.
- In 2005, Income Tax Form 1040 was 142 pages long.
- By 2008, Income Tax Form 1040 was 161 pages long!
(Image and Information Source: RealClearMarkets.com)
That’s an average of just over 3 pages of new material every single year. By the time my great-grandchildren do taxes, Income Tax Form 1040 will be longer than my copy of Moby Dick.
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Tags: Income Tax, income tax filing, income tax form, tax form 1040
you just reminded me that I’ve NOT paid our state tax refund yet……LOL!!!! We got a huge federal refund from the IRS but had to pay in to state this year ($112)………guess I’ve been waiting till the absolute last moment to send them money…..I’ll do it online so I get my bank reward points.