Charles Rossotti on $80 Billion Tax Compliance

Posted by admin on Wednesday, April 2, 2014

Charles Rossotti Money Quotation saying, as former IRS Commissioner, that taxpayers are overly burdened with complying with the Tax Code. Charles Rossotti said:
 
The cost of taxpayer compliance with [the tax code] is over $80 billion per year, more than eight times the cost of the IRS budget Quote
 

“The cost of taxpayer compliance with [the tax code] is over $80 billion per year, more than eight times the cost of the IRS budget” — Charles Rossotti

 

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This quote from Charles Rossotti, a former IRS Commissioner, is highlighting the enormous costs that taxpayers incur each year to comply with and file taxes according to the complex U.S. tax code. Specifically:

  • The cost of taxpayer compliance is estimated to be over $80 billion per year. This includes money spent on tax preparation software, accountants/tax attorneys, and the time/effort of individual taxpayers.
  • This $80 billion compliance cost is more than eight times the annual budget of the IRS itself.

The overall message is that the complexity of the tax code has resulted in a huge financial burden on taxpayers beyond just paying their tax amounts owed. Simplifying the tax system could significantly reduce these unnecessary compliance costs each year that taxpayers spend just understanding and following the tax rules.

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