Monday, February 27, 2006
Joe Bankman reports that there is a move afoot in the California legislature to repeal the ReadyReturn Program:
The Republicans in the CA legislator have now introduced legislation to kill the program entirely [No. 1335]. There is a Democratic bill that would expand the program to 1M taxpayers this year and up to 4M taxpayers in the future [No. 2905]. The bill would also pledge the FTB (state tax agency) to work toward giving all taxpayers access to the 3rd-party reporting of their wages, interest income, consulting income and so on. Taxpayers (or their preparers) could log in on-line before filing to see the income reported to the State and make sure their figures matched. The Republicans have already come out with a position paper on their bill. The Democrats, true to form, are late in their launch. Something should be out soon.