AICPA beats drum of tax simplification.

• Position: Tax info - Brief Article

The AICPA Tax Division recently sponsored, along with the American Bar Association Section of Taxation and the Tax Executives Institute, an Invitational Conference on Tax Law Simplification. The conference was held in response to the Joint Committee on Taxation staff's recent three-volume tax simplification recommendations. During the day-long event on Capitol Hill, AICPA, ABA and TEI tax professionals discussed the need for simplification with their colleagues from academia, the Internal Revenue Service, Treasury and congressional staffs.

Panels focused on individual, corporate and international tax issues responsible for considerable complexity, including dependent care and child credits, the earned income tax credit, education incentives, corporate and individual AMT, and capitalization and depreciation issues. Although increasing numbers of taxpayers use tax professionals to help them file returns, Capitol Hill...