Had General Electric’s e-filed 2006 income tax return been printed, it would have consumed 24,000 pages of paper, the nation’s longest tax return.
No small wonder, then, that the Internal Revenue Service’s (IRS) Large and Midsize Business division (LMSB), which examines business taxpayers with $10 million or more in assets, has a daunting mandate. LMSB taxpayers paid $206 billion in taxes in 2006 and filed 175,862 returns with many running to thousands of pages. “It behooves the IRS to do more with less and to be as efficient as possible,” says
Don Rocen, a partner at Miller & Chevalier and former IRS deputy chief counsel.
