Taxes
The U.S. tax code is over 4 million words long, riddled with complexities and loopholes that have been added to the code since the last rewrite, which was over 25 years ago. Our burdensome tax code is holding our economy back. The United States has the highest corporate tax rate in the industrialized world, and The World Bank ranks the U.S. 62nd on the ease of paying taxes in its Doing Business study. It is so difficult for individuals to pay their taxes that nearly ninety percent of Americans either purchased a computer program, or hired a tax professional in order to comply with our current code.
Studies have shown that reforming both our corporate and individual tax code has the potential to unleash economic growth and job creation. The Ways and Means Committee is working to make the U.S. the most competitive tax jurisdiction in the world to unleash American innovation. By closing loopholes and lowering rates, we can create a tax policy that is simpler, flatter, and fairer for everyone.
More on Taxes
WASHINGTON, DC–Today, Congressman Peter Roskam (IL-06) released the following statement lauding House passage of the Achieving a Better Life Experience (ABLE) Act, which allows disabled Americans to create tax-free savings accounts:
WEST CHICAGO—Today, Congressman Peter Roskam (IL-06) sent a letter to Internal Revenue Service Commissioner John Koskinen, inquiring about recent reports of an agreement between the IRS Exempt Organizations Examinations Department and the Freedom from Religion Foundation (FFRF) to investigate 99 "high priority" churches.
WASHINGTON, D.C. – Today, Congressman Peter Roskam (IL-06) released the following statement after the House voted to hold former IRS official Lois Lerner in contempt of Congress, and called on Attorney General Eric Holder to appoint a special counsel to investigate the IRS targeting scandal:
In 2010 alone, the IRS reported a shocking $760 million in unclaimed refunds. So don’t forget to file your tax return by midnight on April 15, one week from today. Take time to double-check all the paperwork and if you can’t file by the deadline, request an extension to avoid fines. Here are some more helpful last-minute tips: