AICPA Voices Strong Support for Senate Finance Committee Discussion Draft on Tax Administration Reform and Simplification
Published January 30, 2014
The American Institute of CPAs (AICPA) said in a letter to Senate Finance Committee Chairman Baucus and Ranking Member Hatch that it “strongly supports the efforts by the Senate Committee on Finance on tax administration reform and simplification.”
Responding to the Finance Committee’s November 20, 2013 discussion draft, Senate Committee on Finance Chairman’s Staff Discussion Draft of Provisions to Reform Tax Administration, the AICPA’s January 16, 2014 letter outlined recommendations it believes will reduce taxpayers’ compliance costs, encourage voluntary compliance through an understanding of the rules, and facilitate enforcement actions.
The AICPA’s recommendations include reforms related to information returns, identity theft and tax fraud, closing the tax gap, expanding electronic filing and tax filing improvements.