According to a press release on the school website, two faculty members from the Kogod School of Business recently testified before Congress in the US House Committee on Small Business and the US Senate Committee on Small Business and Entrepreneurship.
Don Williamson, executive director of the Kogod Tax Policy Center, and Caroline Bruckner, executive-in-residence and managing director of the Center, stood before the nation’s lawmakers to discuss tax policy changes that would simplify the overly complex tax burden on small businesses.
Bruckner and Williamson argued for a simplification of tax regulations to aid small businesses and emerging digital entrepreneurs in complying with and paying their taxes. This new class of emerging entrepreneurs is relatively inexperienced in tax filing and current federal tax codes are difficult to comprehend.
“…simplifying reporting on tax returns will increase compliance, ease the burden of tax administration, increase tax revenue and ultimately reduce the gap between what taxpayers should pay and what the IRS actually collects,” Williamson said.
Research on issues facing emerging entrepreneurs and other small businesses are a focus of the Kogod Tax Policy Center, a resource that offers information on how tax policy and compliance issues affect small businesses, entrepreneurs and middle-income taxpayers. The center promotes nonpartisan research and discussion about tax policy and tax compliance issues affecting those groups.
Want to see more? You can check out the full committee hearings here and here.