AICPA Council Meeting…IRS Commissioner Douglas Shulman Speaks Out

 

  • “The tax code has become a monstrosity.”
  • “Our tax system is the envy of tax systems around the world.”
  • “Public trust in institutions is a critical element of U.S. competitiveness and we’re held up as the global standards.”
  • “We need to be balanced between independence and accountability.”
  • “I’m a big believer that there’s a link between transparency and integrity.”

On tax preparer initiative:

  • “90 percent of people use either tax software or a preparer to prepare their taxes.”
  • “We are charged to make sure the tax system works. We might be the core to make sure the tax laws are administered in a fair and even-handed manner, but in no way does it end with us.”

 On the AICPA’s 125th anniversary:

  • “I commend you for playing an important part in upholding the integrity of the tax system.”
  • “We believe that we’re heading to a post-social world.”
  • “55 percent of time spent on social media is being wasted.”
  • “The New York Times and Wall Street Journal give away newspapers for free on college campuses, but everywhere I went I saw stacks of newspapers.”
  • Gen Y says, ‘Hey, the technology I’ve got in my pocket is better than what I have at work.”

On social media bans at workplaces:

  • “You’re not going to get the best and the brightest to work at your company. This is the air they breathe and the water they swim in.”
  • “Companies that really make money are going have to give an integrative experience.”
  • “Digital disrupters want to build better product experiences, a stronger customer relationship and finally, they want to bring it all to market so much faster.”
  • “There’s really only one choice. Somehow, someway you have to be a disruptive leader. You have to do it.”

Advice:

  • Harness the power of digital consumers
  • Generate more ideas, with greater speed
  • Deliver total product experiences
  • To be a disrupter, you need energy, skills and policies.
  • “People see this all coming, but they’re not ready for it.”
  • “You really have a very simple choice. You either have to be the thunderstorm or you’re going to get very, very wet.”
  • “The Dow Jones Industrial Average is 110 years old. Only one company is left from 110 years ago: General Electric.”