TEI Joins ABA and AICPA in Urging Simplification of Tax Law.The National Taxpayer Advocate has identified complexity as the number one problem with the tax law, and in a break from its historical ban on joint submissions, Tax Executives Institute has joined with two other professional tax associations to do something about it. On December 3, 1999, TEI 1. (communications) TEI - Terminal Endpoint Identifier. 2. (text, project) TEI - Text Encoding Initiative. President Charles W. Shewbridge, III wrote to the chairmen of the congressional tax-writing committee that TEI, the American Bar The American Bar is a drinking establishment at the Savoy Hotel in London. Opened in 1898 when cocktail were being first introduced to London. The term American Bar comes from the 1930s when cocktails were first gaining popularity in the United States. Association's Section of Taxation and the American Institute of Certified Public Accountants' Tax Division were working to develop a joint list of complex provisions that Congress could and should address. Mr. Shewbridge's letter to Congressman Bill Archer and Senator William Roth characterized complexity of the tax law -- including constant changes and amendments -- as "the primary impediment A disability or obstruction that prevents an individual from entering into a contract. Infancy, for example, is an impediment in making certain contracts. Impediments to marriage include such factors as consanguinity between the parties or an earlier marriage that is still valid. to the effective operation of the tax system and the efficient management of the Internal Revenue Service." He then discussed recent submissions by the ABA Aba (ä`bä), city (1991 est. pop. 264,000), SE Nigeria. It is an important regional market, a road and rail hub, and a manufacturing center for cement, textiles, pharmaceuticals, processed palm oil, shoes, plastics, soap, and beer. and the AICPA AICPA See American Institute of Certified Public Accountants (AICPA). that analyzed the individual taxpayer portions of the tax bill that was vetoed last year. Explaining that TEI normally concerns itself with the provisions affecting business, Mr. Shewbridge expressed support for the principles outlined by the two other organizations, saying they "will assist Congress in enacting future tax legislation, including legislation that will affect directly business taxpayers." TEI encouraged Congress to redouble re·dou·ble v. re·dou·bled, re·dou·bling, re·dou·bles v.tr. 1. To double. 2. To repeat. 3. Games To double the doubling bid of (an opponent) in bridge. v. its simplification efforts for all taxpayers. To this end, the Institute stated, we "pledge our cooperation and support." The next step in the simplification effort will be the re lease of joint recommendations for reform of provisions of the tax law affecting both individual and business taxpayers. It is anticipated that this submission will be filed with the Senate Finance Committee and House Ways and Means WAYS AND MEANS. In legislative assemblies there is usually appointed a committee whose duties are to inquire into, and propose to the house, the ways and means to be adopted to raise funds for the use of the government. This body is called the committee of ways and means. Committee, as well as with the Treasury Department, by the end of February. TEI's policy on technical advocacy generally prohibits the Institute from joining coalitions or attaching its name to position papers or briefs prepared by other organizations. Because of the importance of tax simplification, the Institute's Board of Directors in August 1999 waived this prohibition in respect of this project. The Institute's letter is reprinted in this issue, beginning on page 63. A follow-up submission will be filed by March 1. |
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