ON TAX DAY, SHAHEEN INTRODUCES BILL TO SIMPLIFY TAX RETURNApril 15, 2015
(Washington, DC) – Today, on tax filing day, U.S. Senator Jeanne Shaheen (D-N.H.) introduced legislation to streamline the federal tax return process. Shaheen’s Simpler Tax Filing Act would pave the way for the Internal Revenue Service to provide many tax filers with a one-page tax return already filled out with the taxpayer’s information, known as a “simple return,” in turn saving American taxpayers billions in tax preparation fees.
“My bill is based on a simple idea: it should be easy to do your taxes,” Shaheen said. “If enacted, millions of Americans would have the option to receive a simple return that drastically reduces the amount of time and money they currently spend filing their taxes. It’s a common-sense solution that would spare many Americans the headache of tax season.”
Presently, Americans spend more than 6 billion hours preparing their tax returns with almost 60 percent of taxpayers hiring paid tax preparers. Much of the time taxpayers spend is duplicative, filing information the IRS already collects from employers and financial institutions. Under Shaheen’s proposal, the Treasury – in consultation with the Taxpayer Advocate Service – would be required to issue a report detailing the actions necessary to achieve the goal of offering prepared tax filers by 2020.
Once implemented, the IRS would first notify eligible taxpayers that they have the option of filing a “simple return” before later sending eligible taxpayers a one-page return already filled out with pertinent information. The taxpayer would then double-check the form for accuracy before filing it electronically.
The simple return would become a voluntary program that could be offered to as many as 40 percent of Americans and save up to 225 million hours of taxpayers’ time and $2 billion annually in tax preparation fees.
Next Article Previous Article