Apr 15 2014
Rep. Jim Renacci today released the following statement on the Internal Revenue Service’s (IRS) tax filing deadline and the need for a comprehensive overhaul of our tax code:
“As a Certified Public Accountant and former business owner for nearly 30 years, I can attest that our tax code is broken. According to the National Taxpayer Advocate at the IRS, Americans collectively spend more than 6 billion hours and approximately $168 billion each year to file their returns. Today serves as yet another reminder for all Americans that we must reform our tax code. It is too complex, contains too many loopholes, and serves as a barrier to job growth.
“Since joining the Ways & Means Committee, I have advocated for a simpler, fairer tax code that will encourage our small businesses to hire and expand, while also providing relief to individuals and families who continue to grapple with the complexities of our current system. Tax reform will lead to the creation of thousands of jobs and the economic growth that our country needs in order to fully recover. There have been over 4,000 changes to the tax code over the past 10 years, and it is clear that this approach is not working. We need a comprehensive overhaul of our tax system so that it is more transparent and fair to the taxpayer.”