Is It Possible to Abolish the IRS?

Photo Credit: Gage Skidmore

What would we do without the IRS? Don’t get too excited. There will most certainly need to be a governmental agency to collect taxes and keep the country’s infrastructure funded and operating. However, several of the republicans seeking the Presidential nomination seem to have a vision that includes either abolishing or significantly changing the role of the IRS.

According to CNNMoney,  “Ben Carson, Ted Cruz, Rand Paul and Mike Huckabee have all said they would so radically simplify taxes that they would put the IRS out of work.” And Ted Cruz goes so far as to say that, “filing one’s taxes will involve nothing more than “a postcard or iPhone App.” Wouldn’t that be something? 

So what exactly would these candidates do if they were to abolish or replace the IRS? Apparently none of them explained to CNNMoney what they would do, but they all shared their ideas for changing the way taxes are collected or for simplifying the system.  According CNNMoney the ideas range from a “national sales tax to replace the income tax, which is what Huckabee is proposing, to a flat tax which would impose a single rate on wage, business and investment income above a certain amount, and would disallow most tax breaks.” This is what Ted Cruz, Ben Carson and Rand Paul are proposing.

Focusing on tax reform and the IRS as the enemy is an easy target for the candidates considering how little the IRS is regarded by most taxpayers and in light of the massive fraud and recent security breach that has plagued this country in the past few years. Despite that, someone has to collect the money and make sure we have the revenue to run the country. So, no matter what it’s called or how dramatically it is simplified, the IRS will be with us for years to come. And to get through all the red tape, you’ll still need an experienced tax attorney to help you negotiate the maze.