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Tax Law Changes Archives

Tax Changes on Hold in Congress

The tax laws are constantly in flux and you need to remain vigilant and aware of how changes in tax law, regulations and interpretation may affect your tax obligations. The political process that brings about these changes is typically messy and convoluted, but the recent scandal involving the Internal Revenue Service (IRS) over the scrutiny of some political organization's 501(c)(3) applications received has further roiled the waters of tax law. A couple of important matters for tax law enforcement are seemingly in limbo in the Congress, as Republicans are refusing to approve bills that would provide the IRS with additional authority to gather information regarding taxpayers financial transactions and other tools that would be used to collect currently uncollected taxes.

IRS Commissioner Calls For Simplification of Tax Code

Tax laws often change, but the U.S. tax code hasn't seen a major overhaul in about 28 years. From business owners to wage earners, everyone who has paid taxes knows the process can be extremely complicated. In a rare comment on tax law, John Koskinen, Commissioner of Internal Revenue, has recommended simplifying the tax code in a number of ways.

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