The Wine Commonsewer: The 20% Income Tax Surcharge

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May 10, 2005

The 20% Income Tax Surcharge

Tax_50_dollar_bill_1040_3 In 2002 Americans spent around 5.8 billion hours complying with the federal income tax code with an estimated compliance cost of over $194 billion (that's "B").

That doesn't include the cost of tax planning or any state tax compliance costs. It's just the cost of filling out tax and information returns of all types (business, personal, payroll, non-profit, etc) for the federales.

That's a 20.4-cent tax-compliance surcharge for every dollar the income tax system collects.

Nice touch.

Source: Tax Foundation

As Ever,

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Posted by TWC on May 10, 2005 at 09:58 AM in Tax Information | Permalink

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May 10, 2005

The 20% Income Tax Surcharge

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