US Congress – House Small Business Committee Chairman Sam Graves (R-MO) today (4/13/11) held a full committee hearing to examine the complexity of the current tax code and find solutions that will enable small businesses to thrive instead of being crippled by unnecessary burdens.
“The nearly 4 million word tax code is estimated to cost taxpayers and small businesses $163 billion and nearly 6 billion hours a year to comply with tax filing requirements. Clearly, the tax code must be simplified.
“We must also be sure that any plan for tax reform includes individual reforms, since around 75 percent of small firms are taxed at the individual rate.” more> http://tinyurl.com/4xolkfu
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