“The [Tax] Code has to be reformed to increase revenue,” explained Ribble. “The government has to get serious about reducing its size and scope. You just can’t let this continue.”
During his 90-minute visit with staff, Ribble asked questions about the tax preparer industry and was interested in who our members are and how reforms could affect them. Along with staff, he discussed the elimination of some deductions and what complex ideas like a consumption tax, the Buffett Rule and changes to capital gains tax would have on the tax system.
“This is a bi-partisan topic,” said Ribble. “The idea that reform is needed is almost universally accepted in Congress.”
NATP staff expressed concern over the government consistently waiting until the end of the year to decide if tax credits will be extended. Ribble agreed that it is a problem. “There are 1,500 tax credits set to expire at the end of this year,” shared Ribble. He suggested that because this is an election year, our government leaders may be unlikely to end those credits and more likely to wait until the new members of the House and Senate are in place.
NATP is a nonprofit tax association supporting almost 25,000 member tax preparers nationwide with tax education, information, research and practice management support. The NATP Tax Knowledge Center is comprised of experts in most areas of tax who hold designations including Certified Public Accountant, Enrolled Agent and Registered Tax Return Preparer. NATP staff provides more than 30,000 answers to tax questions yearly, writes topical tax articles for multiple member publications and authors several tax textbooks. NATP currently has 56 employees in its Greenville, WI office. For more information, visit www.natptax.com.
Reid Ribble is the U.S. Representative for Wisconsin’s 8th Congressional District. He is a member of the Republican Party. Ribble currently serves on the Budget Committee, the Committee on Agriculture, the Transportation and Infrastructure Committee and is a member of the Republican Study Committee.