Tuesday, March 3, 2009

Income Tax Code fuels Rise in Asprin Stock

From Forbes

--Individuals and businesses spend 7.6 billion hours a year filling out tax forms for the IRS. Those 7.6 billion hours consume the equivalent of 3.8 million full-time workers.

--The cost of complying with the code comes to $193 billion. Other experts think that assessment is too low and have come up with estimates approaching $300 billion.

--The number of words in the code has grown by 2.3 million since 2001.

--In 2008 there were more than 500 changes to the tax code.

--Other surveys have found that the code has been amended some 14,000 times since the mid-1980s.

--No one can cope anymore: "Individual taxpayers find the return preparation process so overwhelming that more than 80% pay transaction fees to help them file their returns."

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