Baucus Targets Fraud, Identity Theft in Draft Tax Administration Proposal

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Senate Finance Committee Chairman Max Baucus (D-Mont.) proposed a series of measures to simplify the tax-filing process and discourage tax fraud in releasing the second of three discussion drafts on overhauling the U.S. tax code.
The proposal, released Nov. 20, would free taxpayers from filing corrected returns if the error on an initial filing was less than $25. It would adjust some filing deadlines to give tax preparers more time to collect information for returns, and promote use of electronic filing by requiring tax preparers to use that method for returns and associated documents.
“Our tax code today is inefficient, and incomprehensible to the overwhelming majority of Americans,” Baucus said in a news release. “This complexity is eroding confidence in our economy and creating uncertainty for America's families and businesses. Enough is enough. This discussion draft explores ways to simplify the tax process for all Americans.”

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