Tax Filing Deadline Today
Fla. Residents Taxed $8,000 a Year
WASHINGTON – On the day federal tax filings are due, Congressman Vern Buchanan called for sweeping reform of the federal tax code and a reduction in tax rates for all Americans.
A record-high $700 billion in taxes was collected from individuals in the first half of fiscal year 2017, according to the nonpartisan Congressional Budget Office. Florida residents pay an average of $8,000 per year in federal income, payroll and estate taxes according to The Associated Press.
“Americans are paying a record amount in taxes to fund an ever-growing federal bureaucracy,” Buchanan said. “Hardworking families are struggling under a complex and punishing tax code. Our tax policies should incentivize job creation and economic growth, not punish people for working hard.”
Buchanan is also focused on making the tax filing process simpler.
“Filing and paying taxes is complicated and frustrating for American families,” Buchanan said. “I’m focused on enacting meaningful tax reform that would lower rates for all Americans and simplify the tax code so that nine out of 10 people could file on a postcard-sized form.”
At almost 4 million words the tax code is five times longer than the King James Bible. Americans spend 6.1 billion hours per year trying to make sure that they pay their taxes correctly. It is so complicated that former IRS Commissioner Douglas Shulman admitted he can’t do his own taxes, saying, “I find the tax code complex, so I use a preparer.”
“Simplifying the tax code and bringing down tax rates for families and small business owners will give the American economy a much-needed boost,” said Buchanan. “But we must also rein in federal spending. I’ve called for a Constitutional balanced budget amendment to ensure that Washington lives within its means.”
The Congressman said he was hopeful that an overhaul to the tax code would be completed this year in a bipartisan manner.