BizTaxBuzz: Volcker Report: Tax Compliance Costs More Than $40 Billion a Year

Tax compliance isn’t cheap. According to a new report from the President’s Economic Recovery Advisory Board, headed by Paul Volcker, companies are spending a total of more than $40 billion per year, or more than 12 percent of the revenues collected.

Volcker Report Reveals Hidden Costs of Garbage In/Garbage Out Tax Code | Source: The Big Fat Finance Blog.