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Thursday, March 19, 2015

AICPA tax reform suggestions for individuals

This week the AICPA Tax Section submitted comments to the Senate Finance Working Group on Individual Taxation.  The suggestions address:
1. Simplified Income Tax Rate Structure;
2. Education Incentives;
3. Identity Theft and Tax Fraud;
4. Relief for Missed Elections (9100 Relief); and
5. “Kiddie Tax” Rules.

Some of these have been long-time suggestions of the AICPA Tax Division, such as unifying the education incentives to make them more usable and simpler.

The Senate Finance Committee is seeking comments for its five working group, with comments due by April 15!  I'm guessing they will also take them shortly thereafter (or anytime).

I'll have more later. I plan to submit comments.  Do you?

2 comments:

Brian said...

Great advice regarding tax reform for individuals and small businesses alike. Thanks for sharing.

Samantha White said...

Thanks for sharing this useful information regarding Taxation and useful suggestion addresses. I will definitely follow this.

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