Distilling the nation's complex tax code is the key to reducing the $290 billion tax gap, the American Institute of CPAs told lawmakers. In a hearing before the House Small Business Committee, James Brennan, chair of the AICPA's IRS Practice and Procedures Committee, said simplification should be the foundation to begin stripping away the mammoth deficit.
"Of the various strategies under discussion by Congress, we believe that tax simplification should be a major focus for reducing the tax gap," Brennan told committee members.
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