This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Alliantgroup Shares Views On The Proposed Tax Reform Options From The Senate Finance Committee

HOUSTON, March 21, 2013 /PRNewswire/ -- Mark W. Everson, Former IRS Commissioner and alliantgroup Vice Chairman, Dean Zerbe, former Senior Tax Counsel to the U.S. Senate Committee on Finance, and Dhaval Jadav, alliantgroup CEO, agree that the proposed tax reform will come of great benefit in a time of increasing demands on tax administration.

The Internal Revenue Service (IRS) mission statement reads as follows: "Provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all." The Senate Finance Committee Staff has presented a staff discussion tax reform which they believe will allow the IRS to accomplish its mission statement more fairly, efficiently, and effectively.

"I welcome anything that can be done to simplify the tax code and improve tax administration. A number of the steps outlined in the staff discussion draft would be of great benefit to individuals, as well as to small and medium size businesses," Everson said. "In addition, Congress has been slow to address the problem of identity theft. It is noteworthy and high time that they tackle this plague, which is straining our tax and financial systems."

Reform options include changes to collection and enforcement, the filing process, simplification of the code, and a miscellaneous section comprised of updates and improvements of taxpayers' rights and Tax Court operations.

"It is important that the Senate Finance Committee has signaled that it is serious about reform and moving forward in an open and transparent manner. Any staff paper on tax reform that proposes getting rid of AMT as well as the Byzantine PEPs and Pease is off to a good start," Zerbe said. "From my time on the Committee, I've found that staff discussion papers have been a good way to bring forward issues and allow for more engaged and substantive discussions that can possibly lead to legislation. It is good to see the Committee moving from platitudes to particulars as they consider much-needed proposals for reform."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs