Institute both a Flat-Tax and a Federal Consumption-Tax to replace the cumbersome existing tax code.

Implement a 10% flat-tax for both businesses and individuals. All tax contributions and records will be the responsibility of the employer (or the "bank" for capital investments). Refunds will only be available to those whose total income is under the federal poverty level. Employers will only be allowed to deduct US capital investments (at a 1-to-1 ratio) from their tax obligation which is based on total revenue (just like the employees' income). This should allow elimination of about 80% of the IRS, since they will now simply randomly audit employer records. Add to this a 3% consumption-tax (sales tax). Now everyone (and every company) pays its "fair share".