The Following Statement Released Today
Senate Finance Committee Chairman Ron Wyden (D-OR) issued the following statement today after receiving a letter from IRS Commissioner John Koskinen regarding the negative impact of continuing Congressional inaction on a set of tax provisions known as “extenders:”
It has been over six months since the Finance Committee passed the EXPIRE Act with strong bipartisan support. As the 2015 filing season begins to loom large, it is more urgent than ever that Congress moves in a decisive and bipartisan way to renew expired tax provisions that will give taxpayers the certainty they need to plan their finances.
According to the IRS, the longer Congress delays action the greater risk that the tax filing season and millions of taxpayer refunds will be delayed, among other serious disruptions. As the economy begins to show signs of strength, uncertainty from the federal tax code is the last thing American businesses and families need as they look to grow and invest. Congress needs to act swiftly on these important tax provisions so it can get to work on a comprehensive overhaul of the tax code and lift the fog of uncertainty from taxpayers.
The letter from the IRS to Chairman Wyden may be found here.
Sources: Senate Finance Committee News Release athttp://www.finance.senate.gov/newsroom/chairman/release/?id=cf51399d-d9df-441e-9c8a-4ec909e5b878 ; IRS letter at http://www.finance.senate.gov/imo/media/doc/IRS%20letter%20to%20Wyden%20on%20extenders.pdf