Tuesday, September 14, 2010

Tax compliance is a big deal in the US--by one estimate, the ratio of compliance costs to compliance revenue for the corporate tax is almost 30%. According to the Tax Foundation, the total compliance cost of the tax code is $196 billion--or more than 1% of GDP. The IRS estimates that Americans spend 6.6 billion hours a year filling out tax forms.

Megan McArdle
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