Here are some stories on the hearing and testimony:
- Journal of Accountancy (4/14/11)
- Accounting Today (4/14/11)
- Accounting Today (4/15/11)
- American Banking & Market News
Since at least the 1980s, the AICPA has been focused on reducing the complexity of the tax laws. We have offered suggestions for reform, as well as principles for simplicity (see links in the 4/13/11 AICPA written testimony - here and the AICPA Tax Reform website). So, it was a nice opportunity to share current ideas of the AICPA Tax Section on how to simplify the tax law. Many thanks to the AICPA Washington DC personnel, particularly Melissa Labant, who drafted the written testimony.
Why do we have this complicated system? Here are some of my suggestions.