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Tuesday, December 1, 2009

Obama Tax Task Force to Miss December 4 Deadline

President Obama's Tax Task Force was supposed to issue its report on Friday 12/4/09. Paul Volker, Chair of the task force has announced that the report will be delayed. He notes that they received over 500 comments and had to cut off submissions due to the 12/4 deadline. The comment page has been re-opened (see above link).

This is not surprising. They did not have much time and had a lot to consider. Hopefully they will take a careful look at the numerous ideas already studied about tax simplification and how to reduce the tax gap (such reports have been issued for years by the Joint Committee on Taxation, Treasury, GAO, AICPA, ABA and many others).

Do you plan to submit comments?

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