Knowing how long it is going to take to file your taxes is a more complex question than you would think. The simple answer is that it depends on whether you are going to file the 1040ez, the 1040a or the 1040 tax form. How many additional forms you are going to have to file with your 1040s is another consideration when trying to determine how long it is going to take to file your taxes.

The more accurate answer is that it takes somewhere between 7 to 22 hours. This includes all the tax preparation, including record keeping, tax planning, form submission and other miscellaneous things that could pop up unexpectedly.

For 1040ez filers (13% of all tax filers), it takes up to 7 hours which includes:

  • 2 hours of record keeping
  • 1 hour for tax planning
  • 2 hours for form completion
  • 1 hour for form submission
  • 1 hour for miscellaneous

For 1040a filers (19% of all tax filers), the number of hours increases slightly to 10 hours, which includes:

  • 4 hours of record keeping
  • 1 hour for tax planning
  • 3 hours for form completion
  • 1 hour for form submission
  • 2 hours for miscellaneous

For 1040 filers (68% of all tax filers), it takes a mind-boggling 22 hours, which includes:

  • 10 hours of record keeping
  • 3 hours for tax planning
  • 4 hours for form completion
  • 1 hour for form submission
  • 3 hours for miscellaneous

And if you own your own business, it is an incredible 32 hours to file your taxes, including:

  • 16 hours of record keeping
  • 4 hours for tax planning
  • 6 hours for form completion
  • 1 hour for form submission
  • 4 hours for miscellaneous

All of these estimates are suggested by the IRS and are averages of the time it takes to adequately prepare to file your taxes. Obviously, if you use a tax professional, the time will decrease. If you choose to give us the opportunity to complete your taxes, we at the Triton Tax Group will make sure it is as pleasant an experience as filing your taxes could ever be.

As Always, Happy Savings!