Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.
Why simplifying the U.S. tax code isn't so simple While all lawmakers can agree that the tax system is too complicated, revising the rules by simplifying the code could be just as difficult, according to CNBC. Congress will have a difficult time scrapping the loopholes in the tax code, which benefit households more than corporations. Tax expenditures for individual taxpayers are estimated at $15.6 trillion over the next 10 years, while business loopholes would also mean $2.7 trillion over the same period, according to data from the Tax Foundation.
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