Monday, September 12, 2011

Even The IRS Knows How Bad The Tax Code Is

With Americans spending 6.1 billion hours per year preparing their taxes, the IRS has tries to help out a bit by having a national taxpayer advocate who, among other duties, reports back to Congress annually and "whose job it is to help taxpayers having problems with the agency." Back in March, it was reported in Money Magazine that the report included the following facts:


- Over the past 10 years there have been 4,428 changes to the tax code - which averages out to more than one per day.

- The code is so complex that nine out of ten Americans have someone fo their taxes for them or rely on tax software.

- The code's complexity often leads honest Joes to make costly errors, while sophosticated taxpayers find loopholes to exploit.

- The code is so long that no one is certain exactly how long it is.

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