Today’s Wall Street Journal also reports that Senators Grassley (R-IA) and Baucus (D-MT) have introduced a “technical corrections act” to fix errors in last year’s tax law and other recent legislation. The Tax Technical Corrections Act of 2005 was also introduced in the House.
While this act, if passed, may fix problems, unfortunately these acts have, in the past, been used to add pork and other problems to the Tax Code. Time will tell.
Hat Tips: The TaxProf Blog