Congressman Brad Sherman

Representing the 32nd District of California

Taxes

  

 

Prior to serving in Congress, Sherman served as a Certified Public Accountant (CPA), Tax Attorney and a Certified Tax Law Specialist

 

"As CPAs we bring a unique approach to fiscal issues" ~ Congressman Brad Sherman

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Currently, Congressman Sherman Co-Chairs the Congressional CPA Caucus that examines standards for financial reporting and auditing in the private sector, the process around the auditing of federal government agencies, and tax accounting issues

 

Below are some of the recent issues Sherman has been working on in Congress concerning Taxes

 

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Simplify Tax Return Filing

Congressman Sherman introduced the Tax Filing Simplification Act to ease the tax filing process for millions of American taxpayers and reduce their costs.

Sherman’s bill is a companion to legislation reintroduced today by Senator Elizabeth Warren (D-MA).

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Stopping Tax Scams

Tax prep companies like Intuit have gotten away with these Free File scams by deploying hordes of lobbyists – including revolving door hires. 

For decades, Intuit lobbyists have defended a failed tax filing system that places corporate profits over taxpayer needs.

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Sherman teamed up with Senator Elizabeth Warren (D-MA) and Congresswoman Katie Porter (D-CA) to put an end to such abusive practices.

The lawmakers said in a letter to Intuit CEO Sasan Goodarzi that TurboTax offers products that "scam American taxpayers into paying for services that should be free." 

Moreover, Sherman, Porter and Warren together urged Federal watchdogs to investigate the abusive practices that allowed Intuit to protect their scam tax filing schemes. 

The lawmakers are working on legislation to crack down on such abusive practices and make the tax filing process cheaper and easier. 


 

More on Taxes

Feb 7, 2024

WASHINGTON, D.C. -- On February 6th, Congressman Brad Sherman (CA-32), senior Member of the House Financial Services Committee, questioned U.S. Secretary of the Treasury Janet Yellen during the Secretary's annual report to Congress of the Financial Stability Oversight Council.

Jan 24, 2024

WASHINGTON, D.C. – Today, Congressman Brad Sherman (CA-32) released a draft of the No Capital Gains Allowance for American Adversaries Act, legislation that would exclude investments in China, Russia, Belarus, and Iran from eligibility for lower capital gains tax rates. Sherman is currently recruiting cosponsors for the bill.

Oct 17, 2023

WASHINGTON, D.C. – Representatives Brad Sherman (D-Calif.), Katie Porter (D-Calif.) and Don Beyer (D-Va.) along with United States Senators Elizabeth Warren (D-Mass.) and Patty Murray (D-Wash.) released the following statement on the announcement by the U.S. Department of Treasury and the Internal Revenue Service (IRS) of its 2024 pilot of Direct File, a program that will allow Americans to file tax returns digitally and free of charge.

Jun 27, 2023

Washington, DC -- Lawmakers led by Congressman Brad Sherman (CA-32) and Senator Elizabeth Warren (Massachusetts) sent a letter to the IRS calling on the agency to make the free pilot electronic tax filing system available to more taxpayers next filing season.

"Today I, along with Senator Warren and dozens of my colleagues, called on the IRS to make the agency’s free pilot direct tax filing system available next filing season to better serve American taxpayers," said Congressman Sherman, the only democrat CPA currently in Congress.

Jun 5, 2023

Washington, D.C. -- Today Congressman Brad Sherman (CA-32), senior member of the House Committee on Financial Services, and Congressman Stephen Lynch (MA-8) sent a letter to the United States Treasury Department and the I.R.S. to urge the prompt release of proposed regulations that would bring the cryptocurrency industry into full tax compliance. 

"For many years, the cryptocurrency industry has been a major source of tax evasion and a significant part of the nation's tax gap," said Congressman Sherman. 

May 15, 2023

Washington, D.C. – In advance of a much-anticipated report by the IRS on May 16th, 2023 regarding free direct e-filing, Congressman Brad Sherman (CA-32) and Congresswoman Katie Porter (CA-47) were joined by 16 other Members of Congress in sending a letter to the IRS urging them to create a free, direct e-file tool for American taxpayers.

Jan 18, 2023

Washington, D.C. - Congressman Brad Sherman (D-CA), senior member of the House Financial Services Committee and Chair of the CPA Caucus, spoke on the House Floor against the Republican's bill to defund the IRS.

"...Everytime a billionaire cheats on their taxes, a Member of the House Freedom Caucus earns his wings," Sherman exclaimed. 

Watch Sherman's Full Speech Here

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Aug 12, 2022

WASHINGTON, D.C. -- Today, Congressman Brad Sherman (D-CA) voted to send historic, inflation-fighting legislation to the President’s desk. The Inflation Reduction Act will deliver landmark investments that lower families’ kitchen table costs, create millions of good-paying union jobs, combat the climate crisis, and dramatically reduce the deficit.

Jul 13, 2022

Washington D.C. – Today Congressman Brad Sherman (D-Sherman Oaks) and Congresswoman Katie Porter (D-CA) led 48 colleagues in introducing the Tax Filing Simplification Act of 2022, with Senator Elizabeth Warren (D-Mass.) leading 22 Senate colleagues to introduce the Senate companion. This legislation would simplify the tax filing process for millions of Americans, saving them time and money.

Apr 18, 2022

Sherman Oaks, California – As taxpayers rush to file last-minute returns by tonight’s midnight deadline, Congressman Brad Sherman (CPA, former head of the second largest tax agency in the country and Co-Chair of the bipartisan, bicameral CPA Congressional Caucus) is helping Californians uncover over $405 million in old refunds that are just waiting to be delivered to up to 412,000 Californians.