Senate Finance Committee Chairman Baucus releases tax administration reform discussion draft

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11/20/2013 by Washington national tax services (WNTS)
Senate Finance Committee Chairman Baucus releases tax administration reform discussion draft

At a glance

This release, the second in a series of staff tax reform discussion drafts, follows the November 19, 2013 discussion draft on international tax reform.

Senate Finance Committee Chairman Max Baucus (D-MT) on November 20, 2013 released a tax administration reform discussion draft prepared by his committee staff.   This release, the second in a series of staff tax reform discussion drafts, follows the November 19, 2013 discussion draft on international tax reform.  Introducing the release today, Chairman Baucus stated the “tax code today is inefficient and incomprehensible” adding that the discussion draft, which draws heavily from Democratic and Republican Senate Finance Committee member proposals, “explores ways to simplify the tax process for all Americans.”   

The Finance staff discussion draft (“discussion draft”) includes three broad sets of reforms:  tax filing reforms; measures to address the tax gap; and reforms to combat tax-related identity theft.  The discussion draft also includes a variety of technical corrections to legislation enacted over the last several years and identifies numerous out-of-date and obsolete provisions (“deadwood”) that could be potentially removed without making any substantive change in the tax law.