One of the most important questions that face all of us is the level of risk and who eventually will underwrite it. We have before us six bills and a discussion draft, and my initial observation is that There are some aspects of these bills that are quite sensible, providing clear rules of the road for taxpayers looking to comply with the law. Other provisions sought the common sense goal of alleviating burdensome paperwork requirements, especially in situations where it's highly unlikely that there would be any tax associated with those transactions. (01:08–01:17)
CLAIM
Asserts that some aspects of the bills provide clear compliance rules for taxpayers.
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