Bob Kerrey: “One of the things that this law does in title II is deal with a new trend that all of us understand, which is electronic…”

“One of the things that this law does in title II is deal with a new trend that all of us understand, which is electronic commerce. We see a lot of electronic commerce developing out there in the private sector. The IRS has been struggling to get electronic filing up and online. The significance of it is that when you file electronically, the error rate is less than 1 percent. Error is real money. You make a mistake on the Government side with a tax claim, and it could end up in court for years and years and years and cost the taxpayer and the Government tremendous amounts of money. So errors are real money. In the paper world, the rate of error is 25 percent. So we provide both incentives and resources to get to a much higher number of electronic filings which I think for taxpayers who pay to run the IRS, as well as taxpayers who are sending their money, is a tremendously important change in the law.”