TAX SIMPLIFICATION RECOMMENDATIONS
Posted February 2001

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The American Bar Association Section of Taxation, the American Institute of Certified Public Accountants Tax Division, and the Tax Executives Institute believe that simplification of the tax laws should be a high priority for Congress. In an effort to assist in the process of simplifying the tax laws, we respectfully submit the following simplification recommendations.

These recommendations are presented on behalf of the Section of Taxation. They have not been approved by the House of Delegates or the Board of Governors of the American Bar Association and, accordingly, should not be construed as representing the policies of the Association.

Issues Addressed

1. Alternative Minimum Tax (AMT)
2. Phase-outs
3. Capital Gains Provisions
4. Family Status Issues, including the Earned Income Credit
5. Estimated Tax Safe Harbors
6. Extenders
7. Education Incentives
8. Capitalization, Expensing, and Recovery of Capitalized Costs
9. Half-Year Age Conventions
10. Minimum Distribution Requirements
11. Worker Classification
12. Attribution Rules
13. Foreign Tax Credit Rules
14. Subpart F
15. PFIC Rules
16. Collapsible Corporation

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