Tax-Law Complexity Grows Like a Bad Weed
“Taxpayers using any of the 1040 tax form series will spend an average of 24.2 hours and $207 completing their returns this year, up from 23.3 hours and $179 three years ago.”
Two of the more significant findings from NTU’s study include:
“Americans spent 6.65 billion hours in 2006 complying with the tax laws; the IRS accounts for nearly 4 out of every 5 paperwork burden hours imposed by the entire federal government.
“Approximately 3.45 billion of those hours were incurred by businesses. The value of this time is $156.5 billion -- an amazing 44 percent of total corporate income taxes collected in 2006!”
Is there any doubt that a flat tax or the FairTax would be an improvement?