Happy Tax Day!
In case you hadn't heard, the Tax Code is becoming more complex. According to NTU's annual report on tax complexity, "the complexity of the Tax Code costs individual taxpayers $115.4 billion, thanks to the time burden and expenses of software, preparer fees, and other materials. The total time burden, including corporate filings, is 7.64 billion hours at a cost of $227.1 billion." One reason for this rise in complexity is Congress's insertion on an additional 52,000 words into the code since last year.
While tax complexity is up, the outlook on U.S. government debt appears to be down. According to Reuters, "Standard & Poor's slapped a negative outlook on the top-notch credit rating of the United States on Monday."
Feel like doing something about it? Support NTU's efforts to end the Tax Code and advance a pro-taxpayer agenda that cuts spending, ensures fiscal responsibility, and is pro-economic growth. Why not become a supporter today? Turn Tax Day into something positive!