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Friday, August 27, 2010

Report from Obama's Tax Reform Panel

The report that was supposed to be issued in December 2009 by President Obama's Tax Reform Panel was released today - here (+ White House information). This 126 page report does not include recommendations but instead in an analysis of a variety of proposals that have been made by various groups in the past with a brief explanation of advantages and disadvantages of each. So, really nothing new. Several of the proposals have been offered by others for some time, such as consolidate education incentives. The AICPA has been suggesting that for years.

The charge of this panel was to address three areas: "simplifying the tax system, improving taxpayer compliance with existing tax laws, and reforming the corporate tax system."

I'll have more later as I read through all 126 pages.

What do you think of the report? Any surprises?

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