News from Representative Tom Emmer

Dear Friend,

Congress is back in session for another packed legislative week.

First, let’s recap: Last week, during a House Financial Services hearing I had the opportunity to question Consumer Financial Protection Bureau Acting Director Mick Mulvaney. Click here to watch the full committee hearing. To watch my questioning, click here.

Click here to watch my questioning. 

 

A reminder that today is TAX DAY! 

Still need to file? Click here to get started. If you need to file an extension, click here.

New research was just released showing the cost of tax compliance this year. The estimated time burden to complete IRS forms sits at 8.1 billion hours and the monetary costs for completing this paperwork is $85.6 billion as estimated by the Internal Revenue Service. 

Thankfully, this is the last year of our old broken tax code. The Tax Cuts and Jobs Act will be implemented in full starting next year, bringing relief by allowing you to file your taxes in a more simplistic and straight forward way. It will also provide lower tax rates for all Americans, nearly double the standard deduction and double the child tax credit to help families.

This year, as part of the implementation of the Tax Cuts and Jobs Act, the U.S. Treasury Department and the IRS have added a new online tool, a calculator to identify the correct amount of withholding for your W-4 forms. Click here to try it!

Speaking of the IRS…

On the floor this week, the U.S. House of Representatives will take up two bills that bring much-needed change to the agency: the 21st Century IRS Act to demand greater accountability, transparency, and security at the agency, and the Taxpayer First Act which will modernize the IRS for the first time since 1998 by protecting taxpayers from identity theft, and updating practices to make IRS rules more sensible.

Then on Wednesday, April 18

The House Agriculture Committee will take up the newly introduced Farm Bill, which includes my STRESS Act to combat the farmer suicide crisis happening around the country. Watch the hearing live here.

To keep up with what we’re working on and for updates on our efforts, follow me on Twitter and Facebook!


Sincerely,


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