In a letter to the IRS Commissioner Everson from the AICPA, Thomas Purcell, III, chair of AICPA Tax Executive Committee, points out that the recently published 2005 instructions for Form 1040, Schedule D, will impose a significant new burden on the report of capital gains and losses, by requiring taxpayers filing Schedule D to list each capital gain or loss transaction on a separate line.

The AICPA indicates it believes this requirement would, in addition to creating a substantial reporting burden, be inconsistent with current IRS electronic filing information presentation options and thus, generally discourages the electronic filing of individual tax returns.

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