The U.S. Department of the Treasury has issued a notice through the Internal Revenue Service (IRS) seeking public comments on the paperwork and burden related to U.S. Income Tax Return Forms for individual taxpayers, as required by the Paperwork Reduction Act of 1995. The notice invites individuals and federal agencies to provide feedback by January 21, 2025, on the time and out-of-pocket costs associated with tax filing. The IRS estimates approximately 168.8 million respondents, with each spending an average of 12 hours and 37 minutes to comply with tax filing requirements, resulting in a total monetized burden of nearly $93.7 billion annually. The IRS will also continue offering a free e-file tax return system, known as Direct File, in the 2025 tax season.
Simple Explanation
The IRS wants to know how hard it is for people to fill out their tax forms and how much it costs them, and they're asking everyone to share their thoughts. They promise to let people file taxes for free online using a special tool.