Former Federal Reserve Chairman Paul Volcker is in charge of the tax-code review aimed at closing loopholes, streamlining the law and generating revenue. Volcker, who heads the President’s Economic Recovery Advisory Board, was asked to take a look at the laws in an effort to rebalance the tax system. The review, given a deadline of Dec. 4, is being ordered to make recommendations on steps to simplify the code which has been built over the last 96 years.
For additional information or to download a copy of the book “Toward Tax Reform — Recommendations for President’s Obama’s Task Force,” go to Tax Analysts’ Web site.
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