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Tax Day rolls around every April - yet the last major update to the U.S. tax system was in 1986, nearly 30 years ago. Think about how much has changed since then. In 1985, Microsoft Windows was released. Since then, Microsoft has released more than 20 updates to its operating system. Updating the tax system is one of the perennial policy issues politicians enjoy talking about. And it could be a key policy debate this year and next.

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