 |
| http://blog.aicpa.org/ |
What questions do you have?
 |
| Excerpt from Congressman Camp's Small Business Proposal |
Wednesday, April 3, 2013
8 Questions About Federal Tax Reform
What questions do you have?
Subscribe to:
Post Comments (Atom)
What questions do you have?
Annette Nellen
Professor Annette Nellen
Top 100 World Tax Blogs
Top 50 Accounting Blogs
My Blog List
Popular Posts
-
On 9/1/22, Colorado became the first state to accept cryptocurrency for all tax payments. There are many ways this could have been structure... -
Excerpt: California Tax Expenditure Report California's tax system has a few longstanding weaknesses including volatility in its income ... -
In March 2014, the IRS issued Notice 2014-21 to let us know that virtual currency should be treated as property (rather than as a currenc... -
Speaker Ryan explaining tax reform at 10/4/17 Facebook Event , holding the postcard form (see my comment below though) There are a lot ... -
I've got a blog post on the sales tax discounts that several states offer to vendors to help address the costs they incur in getting sal...
GoGuides
Featured Post
More than one way to tax consumption
In the US, the consumption taxes we are most familiar with are the sales tax and some excise taxes, such as on gasoline, alcohol and toba...
1 comment:
My question is will tax reform address the budget and revenue estimate processes which have encouraged lawmakers to use temporary tax provisions (i.e. research credits), phase-in/phase-out rules (i.e. itemized deduction and personal exemptions), and sunset provisions (i.e. 2001 and 2003 Bush tax cuts) to meet revenue targets rather than to achieve sound tax policy goals. These practices added complexity and uncertainty to the Code; see the written testimony by Eric Solomon, Assistant Secretary of the Treasury for Tax Policy (2006-2009) to the Senate Finance Committee on March 1, 2011 http://www.finance.senate.gov/imo/media/doc/Solomon.pdf.
Among the examples listed in his testimony, Solomon explained that Congress enacted temporary provisions, such as the research credit, because of the political difficulty in agreeing on viable offsets to make the provisions permanent. As a result, businesses would not know whether the credit would be available in future years when they make their research investment decisions. The uncertainty might have deterred some businesses from committing to the investment; thus reduced the potential impact of the tax incentive.
If Congress is investing effort into tax reform; taxpayers will not want it undone by skewed budgeting processes within a few years. Therefore, my question for tax reform is: Will the current budgeting process that added complexity and uncertainty to the Code be reviewed?
Post a Comment