Coping With Taxes as April 15 Nears
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Well, here are the two of us, trying to complete our 1987 federal income tax return. Nothing exotic--two salaries, an IRA rollover, and some non-cash contributions. We are struggling, but no dummies here; two engineering degrees, a master’s in systems management and a master’s in business administration.
Having just returned, for a second time, from the federal building to pick up more newly required forms, we witnessed people in tears of frustration. What has the Congress done to us all? Imposed lifetime record keeping for IRA participants. Required income/outgo diaries that would challenge an accounting firm. Violated the basic rule of voluntary participation programs--keep it simple, sir. We blame not the IRS, but our senators and representatives who believe that they can micromanage the financial lives of citizens.
The underground economy will grow, for it is nearly impossible for an honest, intelligent citizen to prepare a tax return easily and correctly. And let’s remind our lawmakers that it is OK to simplify, simplify, simplify.
JOHN GLEITER
North Hollywood
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