Reed: Tax code needs to be simplified
Citing the National Taxpayer Advocate’s 2012 Annual Report, Rep. Tom Reed Monday emphasized the need to simplify the tax code so that taxpayers have a better understanding of the code and how to file properly.
“What really stood out in the report is the overall complexity of the code,” Reed said. “Hardworking taxpayers are spending a collective 6.1 billion hours and roughly 90 percent use either paid preparers or software each year trying to comply with the 70,000-page tax code. That is time and money that could be better spent creating jobs, expanding businesses and investing. It’s time to make the code simpler and fairer for taxpayers.”
Reed, who is a member of the Ways and Means Committee, joins Committee Chairman Dave Camp in pressing urgency for tax reform.
“Chairman Camp has reiterated that comprehensive tax reform will come out of the House in 2013 and members of the Senate Finance Committee have sent a similar message of support on the issue,” Reed continued. “Now the question will be whether or not the White House is going to be a willing partner and join us at the table for comprehensive tax reform.
“It would make sense that the Senate and White House join us in tax reform because simplifying the code will promote economic growth and job creation by lowering the cost of doing business. Our small businesses already create two out of every three new jobs and with a pro-growth environment, they can spend less time and money on compliance and more time growing their business.”
The National Taxpayer Advocate is obligated to provide its annual report to Congress each year. The 2012 Annual Report highlighted more than 20 of the most cumbersome problems facing taxpayers because of the United States’ complicated tax code.