The Unrepentant Individual

...just hanging around until Dec 21, 2012

May 31, 2006

24,000 Pages?!

That was the length of General Electric’s 2005 tax return. You heard me correctly, 24,000 pages. Astounding…

From the IRS Web Site

The Internal Revenue Service today announced significant progress in its corporate e-file program, including the successful May 18, 2006 e-filing of the nation’s largest tax return from General Electric (GE).

On paper, GE’s e-filed return would have been approximately 24,000 pages long. After filing, GE received IRS’ acknowledgement of its filing in about an hour. The file was 237 megabytes.

“Having GE file electronically shows the program is working,” said IRS Commissioner Mark W. Everson. “Having the largest tax return is a major milestone for the corporate e-file program. I appreciate GE’s work to get this done.”

Yeah, it saved a lot of paper. That’s probably not reflected in the paychecks GE paid their team of tax attorneys to prepare the return, or the boatloads of money the Treasury will have to print (or “loan”) to pay the salaries of all the federal employees who will have to look this one over. My tax return took an afternoon to complete. How man man-years did this take?

It’s got to stop. It’s time for the FairTax.

Hat Tip: The Wrightwing

Posted By: Brad Warbiany @ 10:24 pm || Permalink || Comments (1) || Trackback URL || Categories: News, Taxes

1 Comment

  1. 24,000 pages, wow; it’s a good thing the system works so efficiently. I wonder what the unemplyment line would look like if and when a Fair Tax or Consumption Tax is put into play; all those lawyers and accountants holding a hand out, folks standing at busy intersections cleaning your windshield with pocket protectors holding cardboard signs, the letters and numbers percectly aligned with footnotes.

    Comment by TF Stern — June 1, 2006 @ 8:05 am

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