Quick Books? Taxpayers Spend 7.6 Billion Hours and $140 Billion to Comply with Code

According to an article from the Washington Post today, taxpayers spend 7.6 billion hours and nearly $140 Billion in order to comply with the Internal Revenue Code. This is reported a few days after the release of the President’s Economic Recovery Board’s report regarding the complexity of tax code. Evidence of the increased complexity of the code cited in the report is the enlargement of the Form 1040 (form used by individual taxpayers to file taxes) Instructions from 14 to pages to 44 pages and 15,000 changes to the code since 1986.

Tagged as: billions, complex, economic recovery board report, Form 1040, internal revenue code, Money, President Obama, Quickbooks, Tax Code, time, Washington Post