24,000 Pages!

Tax reform anyone?

Taxpayers who gripe about long returns have nothing on General Electric Co., which filed a 24,000-page tax return this month.

The Internal Revenue Service said the company "stepped up and embraced" the new requirement for companies with more than $50 million in assets to file electronically.

If GE had sent paper forms, the return would have stacked up eight feet high. Instead, it took up 237 megabytes.

No telling how much it costs GE to prepare that return, but it cost them between 500K and a million dollars to develop an electronic filing system.

It's no doubt that GE didn't not bring as many good things to life because of the burden of filing.

Economics and Markets Posted by AlexC at June 1, 2006 1:25 PM