Personal Notes

My income tax return
preparation business is 37 years old (since 1977).  I recall the chatter surrounding the 1986 Tax
Reform Act which overhauled and simplified the tax code.  Experts predicted more people would prepare
their own taxes and there would be a significant drop in the need for tax
professionals.  Well, that never
occurred.  Instead, Congress and state lawmakers
added more twists and turns to the tax code to either clarify existing law or
to create more law – mostly to satisfy special interest groups.  Each new president promises tax
simplification. Proposals fly for a flat tax, a consumption tax, a fair tax—and
they’ve all died sad little deaths in Congress. 
And, to top it off the states have joined in to create a second layer of
complexity involving multi-state returns. 
In Pennsylvania, the local returns sometimes cause even more
complications.  Oh, don’t forget about
the complexity of the Affordable Care Act (aka ObamaCare).  Talk about job security!

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