Congress told tax code is too difficult
If you think that doing your taxes is just too hard, guess what, the folks in Washington agree with you.
National Taxpayer Advocate Nina Olson has told Congress that the four-million word tax code is simply too much and too difficult for anyone to understand. Houston CPA Bob Fumagalli agrees.
“All they do is continue to add new rules and regulations and exceptions to existing law. It really needs to be simplified,” he told KTRH.
Fumagalli says keeping up with the changes itself is a full time job.
“You constantly have to stay on top of it and read what’s going on because it’s constantly changing and can affect your clients,” he explained.
It's so hard that financial planner like Richard Rosso won't even touch their own taxes.
“I give my taxes to a professional,” Rosso said. “I don’t want to deal with it. I don’t know how anyone deals with it on their own anymore. I think that is going to continue to be the case.”
Olson told Congress Americans spend 6 billion hours a year working to meet the requirement of the code. Rosso says no one has the time anymore to sit down and prepare their files for the IRS.
“Your time is so precious today with all the hours you work. You do need to hand it over to a professional because most likely you’re going to miss something and then have to deal with it later on,” Rosso told KTRH.
How many changes to the code have been made? According to Olson’s report they have been more than one each day since 2001. But as far as changes are concerned, don't expect any for a while.
Hear the podcast with Matt Patrick and Houston's Morning News as he talks with Rosso: