Tax Day 2014: How Tax Reform Would Make Filing Taxes Better

April 15, the day Americans’ tax returns for the previous year are due to the IRS, is fast approaching. Families all over the country are scrambling to find documentation for their incomes and any expenses they incurred that might be deductible, creditable, or exemptible. It is a day of consternation for most families because of the mind-numbing complexity of completing this annual task.
The best that can be said of Tax Day is that it provides a yearly reminder of just how convoluted the tax code is and how much damage it does to the economy. It should also serve as a periodic reminder that filing taxes does not have to be this way. Tax reform, if done right, would help Americans in numerous ways.

Raise Incomes

The biggest difference taxpayers would notice would be increased annual incomes. Families would see their incomes grow because tax reform would lessen the severe disincentives that the tax code currently imposes on the fundamental activities of economic growth—working, saving, investing, and taking on risk. This would allow the economy to grow stronger, which would mean more opportunities for Americans at all income levels to find higher-paying jobs and earn larger wage increases.

http://www.heritage.org/research/reports/2014/04/tax-day-2014-how-tax-reform-would-make-filing-taxes-better?utm_source=heritagefoundation&utm_medium=homepage&utm_content=140409_2&utm_campaign=headline