Quick: How many people does it take to feed the IRS ?

Each year, the IRS publishes roughly 70,000 pages of forms, publications, schedules, instructions and rules … that’s equivalent to 25 volumes of administrative and legal guidance books that take up nearly nine feet of shelf space

There have been 3,250 changes to the tax code since 2001, more than 500 of them in 2008 alone. 

Americans (individuals, company employees, tax firms) expend 7.6 billion hours preparing, submitting, and answering questions about tax filings …. the time is split about 50 / 50 on individual and company returns.

“If tax compliance were an industry, it would be one of the largest in the United States. The ‘tax industry’ requires the equivalent of 3.8 million full-time workers.” 

In 2006, corporations and individuals spent $193 billion to comply with the tax code … some estimates go as high as $265 billion.

60% of taxpayers pay professionals … 22% of taxpayers buy tax prep software (e.g. TurboTax, TaxCut).

On average, individual tax payers spend about 20 hours each on tax filing and end up overpaying by more than $600 per return

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Excerpted from IBD, “Change We Need”, January 13, 2009

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