Absolutely. Although the clarity by creating algorithms from tax tables can be helpful, and sometimes the wording seems ambiguous. Although you probably also need lots and lots of examples. (It is as if you need unit tests!)
Most tax-related rules in the US are specified in an XML-based business rules language. That's partly how tax prep companies are able to get rules that don't finalize until 12/31 into products that have to ship 6 weeks later.
