Taxes
Prior to serving in Congress, Sherman served as a Certified Public Accountant (CPA), Tax Attorney and a Certified Tax Law Specialist.
Currently, 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.
"As CPAs we bring a unique approach to fiscal issues" ~ Congressman Brad Sherman
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 by Senator Elizabeth Warren (D-MA).
Last tax season, American taxpayers spent an average of 11 hours and around $200 preparing their tax returns – a cost equal to almost 10 percent of the average federal tax refund. Under this bill, most tax payers will be able to complete their tax returns in less than ten minutes and at no cost.
Stopping Tax Scams
For decades, lobbyists for Tax prep companies have defended a failed tax filing system that places corporate profits over taxpayer needs. 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 for taxpayers across the country.
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