Loop­holes could come back to haunt tax­pay­ers, col­lec­tors

The Buffalo News - - BUSINESS - By Pa­tri­cia Co­hen

“Slow down” is the last thing that sup­port­ers of the Repub­li­cans’ pro­posed tax over­haul want to hear. “My donors are ba­si­cally say­ing get it done or don’t ever call me again,” Rep. Chris Collins, R-Clarence, said this past week.

But the rush to “get it done” – par­tic­u­larly on the busi­ness side, where the most sweep­ing changes are planned – is alarm­ing tax spe­cial­ists who warn that new and un­fore­seen com­plex­ity, loop­holes and glitches could come back to haunt tax col­lec­tors and tax­pay­ers.

“All of this is hap­pen­ing in an in­cred­i­ble rush, and frankly it’s ab­surd and in­cred­i­bly poor gov­ern­ing to

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.