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S. Rept. 114-424 1 (2016-12-20)

handle is hein.congrecreports/crptxsoj0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP Calendar No. 226 114TH CONGRESS REPORT 2d Session SENATE 114-424 S. RES. 252 DECEMBER 20, 2016.-Ordered to be printed Filed, under authority of the order of the Senate of December 10 (legislative day, December 9), 2016 Mr. VITTER, from the Committee on Small Business and Entrepreneurship, submitted the following REPORT [To accompany S. Res. 252] The Committee on Small Business and Entrepreneurship, having considered an original resolution (S. Res. 252) expressing the sense of the Committee on Small Business and Entrepreneurship of the Senate relating to easing the burden of Federal tax compliance on small businesses, having considered the same, reports favorably thereon without amendment and with a preamble and recommends that the resolution do pass. I. INTRODUCTION An original resolution expressing the sense of the Committee on Small Business and Entrepreneurship of the Senate relating to eas- ing the burden of federal tax compliance on small businesses, S. Res. 252 was introduced by Senator Vitter on September 15, 2015. II. HISTORY (PURPOSE & NEED FOR LEGISLATION) When the federal tax code was created, it contained only 400 pages, but since then has grown to about 74,000 pages. As the tax code has expanded, the compliance costs have increased with it. Most small businesses do not have an in-house accounting depart- ment and depend on costly outside accounting and legal services. As such, small businesses have a disproportionate compliance bur- den. According to the National Federation of Independent Businesses (NFIB), for small businesses, the cost of compliance is 70 percent 69-008

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