In a recent speech given by the IRS Commissioner, Doug Shulman at the Harvard University’s Kennedy School of Government, the Commissioner expressed his desire to see a simpler tax code. In his speech, Shulman said that there have been 15,000 changes to the Tax Code since 1986, including 3,000 legislative changes since just the year 2000. And now lawmakers are drafting even more changes to the tax code as Congress has been convening a series of hearings in both the Senate and the House of Representatives on tax reforms for individuals and businesses.
Shulman said, “Most taxpayers want simplicity. They want to pay what they owe, understand what tax benefits they are entitled to, and not get tripped up by the system. However, today’s Tax Code is anything but simple. It is so complex that it makes it hard for taxpayers to plan and make out an annual budget as there can be unpredictable tax bill swings from year to year. One year you might be eligible to claim a tax credit reducing what you owe. But the following year, the tax credit will expire, or there may be a change in your personal situation that will knock you out of the eligibility box.”
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