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Date Posted: 08:15:33 03/28/11 Mon
Author: The Chief
Subject: Yup! ~ $300 Billion! And that probably doesn't count the cost of caffeine and chocolate consumed by those doing preparations! Inside for some info....
In reply to: The Chief (feeling investigative today...) 's message, "It's in the hundreds of billions, I'm sure. I'll bet there are some stats out there.... Hmmm..." on 08:12:02 03/28/11 Mon

"The cost of preparing and filing all business and personal tax returns is estimated to be $250 to $300 billion each year. According to a 2005 report from the U.S. Government Accountability Office, the efficiency cost of the tax system—the output that is lost over and above the tax itself—is between $240 billion and $600 billion per year. For tax return preparation, Americans spent an amount equal to roughly 20% of the amount collected in taxes.[4][5] Tax preparation businesses have been plagued with controversies over Refund anticipation loans."

http://en.wikipedia.org/wiki/Tax_preparation

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Replies:

[> [> [> [> [> Boy, does that sound familiar....it´s tax time here in Germany, too (we have until the end of may), and I would love to already do those darn taxes, but I´m still waiting for a receipt from my insurance company. Since that goes toward my refund, I really need it...grrrr. I hate taxes. I read somewhere that of all the literature concerning taxes worldwide, about 65% concerns the German tax system. No idea if that´s true or not, I guess those things are a pain no matter where on the globe you are! -- Jam, 15:46:57 03/28/11 Mon [1]


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[> [> [> [> [> [> Jam, it sounds like the German penchant of detailed engineering has crept into your Tax code! Maybe your Audi or Mercedes mechanic can figure it out! LOL -- The Chief, 17:06:37 03/29/11 Tue [1]


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[> [> [> [> [> [> [> GRABB! -- JAG Junkie (Ronda), 17:11:32 03/29/11 Tue [1]


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[> [> [> [> [> [> [> LOLOLOL! Now if only I had an Audi engineer on hand.....my future brother in law works for Ford! -- Jam, 01:59:46 03/30/11 Wed [1]


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[> [> [> [> [> but that seems to cover the cost of the taxpayer doing the tax return - what I'm curious about is the cost of the IRS to run the IRS - -- chris k, 06:00:04 03/29/11 Tue [1]


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[> [> [> [> [> [> you know like non profits - the best ones have the highest percent of donations going for the cause. If you have a non profit that has a 75% operation rate where only 25% of the donations actually go to the cause - you should send your money else where - that's what I wonder about the IRS - what percent of money collected actually goes to pay for the operating of the IRS. -- chris k, 06:10:28 03/29/11 Tue [1]


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[> [> [> [> [> [> Not sure but it's going to be a LOT more now that they've added 11,000 new employees to monitor the fees for Obama Care. -- The Chief, 17:09:40 03/29/11 Tue [1]

Yes, you'll pay it on your tax form, but NO, it's not a "tax"...


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