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| February 2nd, 2004 |
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Media Contact(s): Adam Elggren, 202.224.3370 |
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TAX SIMPLIFICATION WOULD HELP UTAH PARENTS
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Washington - U.S. Senator Orrin G. Hatch (R-Utah) won approval today of a tax provision that would greatly simplify the Internal Revenue Code for Utah parents. The provision, which was added to the "Tax Administration Good Government Act of 2004" by the Senate Finance Committee, would provide a uniform definition of a “child” in the tax law — making tax preparation much less confusing and easier for countless tax-paying parents.
“America’s families know what it means to raise a child, but our tax code doesn’t,” said Hatch. “This bill will cut the number of definitions of ‘child’ in our tax code from five to just one. This is the kind of tax simplification that will save Utah parents hours of headaches every year.”
The Internal Revenue Code currently contains separate definitions for each of the five major provisions dealing with children — the dependency exemption, the child credit, the earned income credit, the dependent care credit, and the head-of-household filing status. These separate definitions can result in confusing and unfair tax treatment of families.
Hatch, second-ranking Republican on the Finance Committee, also won approval in the committee of an amendment to the transportation bill that would modernize the U.S. Tax Court. The Tax Administration Good Government Act will next go to the Senate floor for a vote.
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