I very seriously and sincerely believe that the one and only purpose of the federal tax system is to raise the money necessary to fund the government.
The Tax Foundation, a nonpartisan, educational organization, has earned a reputation for independence and credibility. The Foundation has identified the “Principles of Sound Tax Policy”, which should be incorporated in the new rewritten Tax Code.
I believe that a much simpler tax system would not hurt our business. I truly believe that if we did nothing but basic 1040s – the equivalent of the old “1040-A” - all day during the tax season, we would make more money, experience less agita, and substantially reduce the number of extensions needed.
I think many clients would not decide to do their own returns if the tax system was simplified; they would continue to come to us. Most taxpayers who use a tax professional simply don’t want to be bothered with the task of preparing their tax return, and want to make sure they do not miss anything.