During tax season, many of us complain about the current system. Now, you have the chance to do more than just tell your friends and family how frustrated you are. Congress is tackling tax reform and asking for your suggestions.
The House Invites Public Comment on Tax Reform
Last month, the Senate Finance Committee announced that it would start a conversation about tax code reform. Meetings to discuss topics related tax reform have been underway since March, and are expected to continue. The goal of the committee, according to a press release, is to simplify the tax code and bring it up to date to reflect the rapid changes that have taken place in the economy since the last tax code update 27 years ago.
Members of the Senate aren’t the only politicians interested in tax reform. In the House of Representatives, working groups in the Ways and Means Committee are working on tax reform issues. The Representatives even want your help in directing the conversation.
The House has issued an open invitation for comments and ideas on tax reform. If you want to submit your idea, you have until April 15, 2013, to do so. Here is what the House Ways and Means Committee expects you to do if you want to submit an idea:
- Comments should be emailed to [email protected]
- The subject line of the email should say, “Comments: (name of) Tax Reform Working Group.” There are 11 different working groups, and you can find out what they encompass, and who is on them, by visiting the site provided by the Ways and Means Committee.
- Your submission should be prepared in a Word document and attached to the email.
- The body of your email should contain your name and contact information, including a physical address, phone number, and email address.
You can also see who has submitted comments on tax reform; if you agree with something, you can send a similar idea in.
If you want to increase the chances of your idea being adopted, you need to encourage others to submit a similar idea. In many cases, politicians are open to ideas that more people espouse.
Make Your Voice Heard
Don’t forget that this is a representative republic. We elect our officials to act on our behalf. Over the last few years, conversations about tax reform have been circulating. The last presidential election cycle included different ideas about possible tax reform, from a flat tax to a national sales tax (no more income tax).
Plus, with tax season winding down, many taxpayers are feeling overwhelmed with the difficulty involved in filing a tax return for complex finances. Many taxpayers are also concerned about the fact that technology makes it easier than ever to cultivate multiple streams of income and start different businesses. All of this adds to the complexity of taxes, and a complex tax code on top of it doesn’t help.
The conversation about tax reform is something you can participate in. What would you like to see different about the tax code?