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1 Scott A. Hodge, The Compliance Costs of IRS Regulations 1 (2016)

handle is hein.taxfoundation/cmcstirseg0001 and id is 1 raw text is: FOUNATIO The Compliance Costs of IRS FISCAL Regulations FACT No. 512 By Scott A. Hodge Jun. 2016 President Key Findings: *The growing complexity of the U.S. tax code has led to large compliance costs for households and businesses. *Using data from the Office of Information and Regulatory Affairs and the Bureau of Labor Statistics, it is possible to estimate the total cost of tax compliance on the U.S. economy. *Americans will spend more than 8.9 billion hours complying with IRS tax filing requirements in 2016. *All in all, tax compliance will cost the U.S. economy $409 billion this year. The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, and local levels. We are a 501(c)(3) non-profit organization. @2016 Tax Foundation Distributed under Creative Commons CC-BY-NC 4.0 Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org