It’s easy to underestimate just how massive and complex our tax system has become. From the 9,300+ words in the first tax law to today’s 10,000-section tax code—and 40 million IRS calls during a single filing season—the scale is staggering. Americans now spend nearly 8 billion hours each year just preparing their taxes, at an estimated cost of $546 billion annually. With over 163 million tax returns filed in 2020 and the top 50% of taxpayers covering 97% of all individual income taxes, it’s no wonder tax season feels overwhelming. As we move forward, these numbers are a helpful reminder of why thoughtful tax planning matters all year round—not just in April.
