Here it is tax season and the awesome Joe Kristan is still going full steam over at RothCPA.com with a friendly reminder here about complying with the tax laws. And thanks for this fascinating quotation (here) from IRS Commissioner Mark Everson testifying before the House Ways and Means Committee yesterday:
The length of time it takes us to complete the audit of a large, complex corporation is five years from the date the return is filed, which in most cases is already eight and one-half months after year end. And these figures don’t include the appeals process, which runs another two years before the matter is settled or goes to court. That means that half of our current inventory of large cases is from the mid 1990s or the early 1990s. In today’s rapidly changing world, we might as well be looking at transactions from the Civil War.