Tax Compliance Costly For Individuals, Businesses - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Tax Compliance Costly For Individuals, Businesses

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WASHINGTON (AP) - A new report says the nation's tax code is so complex that taxpayers spend nearly $200 billion a year on the work required to comply with requirements.

The report also says the Internal Revenue Service should do more to help financially strapped taxpayers meet their obligations.

Taxpayer Advocate Nina Olson writes in her report that lawmakers have been talking about simplifying tax laws for years, yet the tax code has grown to 3.7 million words.

The tax code is likely to get even more complex in the coming weeks as Congress considers an economic stimulus package that is expected to include about $300 billion in tax cuts.

The National Taxpayer Advocate, who works independently within the IRS, is required by Congress to report annually on the most serious problems facing taxpayers.

(Copyright 2009 by The Associated Press.  All Rights Reserved.)

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