GOP/TAXES: “As Republicans move forward on their tax bills this week, part of their pitch is that 9 in 10 Americans would ultimately be able to file returns the size of postcards. While the plans don’t make tax filing quite that easy, they do mark a step toward a simpler system.
The GOP plans would repeal the alternative minimum tax, a parallel tax system affecting more than four million households…
The full House and a Senate committee are each expected to vote this week on the competing plans, as Republicans push to have a tax bill signed into law by year-end. Simplification is part of the GOP’s promise to voters, but for many filers, a simpler tax code without the breaks they use the most could leave them paying more…
The National Taxpayer Advocate, an internal IRS watchdog, estimates tax filing costs about $195 billion a year and six billion hours in annual compliance costs.”
-Richard Rubin, “GOP Bills Remove Some of the Tax Code’s Complexities,” The Wall Street Journal online, Nov. 12, 2017 09:49pm