Tax Day Should Be Simpler

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Valued Social Butterfly
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Re: Tax Day Should Be Simpler

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Message 11 of 15

@Richva wrote:

One of the reasons our tax codes are so complicated is the impact of the tax preparation industry. You do not see Turbo Tax ads or H&R Block offices in any other country.  A few years' back, a Harvard Professor tried to implement a European idea where the state government would fill out your tax return with all the information they already had and you just make adjustments. 

 

It is estimated that the state and federal governments could complete 80% of all taxpayer returns.   Everyone participating thought it a wonderful idea but the Tax Preparation industry killed it. 

 


For those people, I'd say they probably already have an easy return to do - not much change from year to year.  Most likely they could do it themselves with a free file, a little studying or even once a friend of mine bought a form of taxact at a dollar store and he is one of the smartest people I know when it comes to money and investing.  Now, he keeps looking for them every year.

 

I will have to say that I know absolutely nobody who's income, deductions and computations are similar enough each year where the government could fill any part of their return out, except maybe name and possibly address and identifying numbers.  Unless they want to go ahead and enter all the scheduled information which they have for a person but then we would still have to check and make sure one was not missed.

 

To make it simple for everybody, perhaps some form of flat tax with only a couple of lines to fill out, getting rid of deductions, tax loopholes, verification of health insurance and all the rest of the stuff that government uses the tax code to entice us to take specific actions.

 

It is a revenue source not some bribery scheme to promote certain actions.

 

IMO, just another Democrat trying to further even more dependence on the government.  Last I checked, we all have brains and can learn.

 

 


* * * * It's Always Something . . . Roseanne Roseannadanna
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Treasured Social Butterfly
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Re: Tax Day Should Be Simpler

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Message 12 of 15

One of the reasons our tax codes are so complicated is the impact of the tax preparation industry. You do not see Turbo Tax ads or H&R Block offices in any other country.  A few years' back, a Harvard Professor tried to implement a European idea where the state government would fill out your tax return with all the information they already had and you just make adjustments. 

 

It is estimated that the state and federal governments could complete 80% of all taxpayer returns.   Everyone participating thought it a wonderful idea but the Tax Preparation industry killed it. 

 

http://www.npr.org/2017/03/29/521954033/stanford-professor-loses-political-battle-to-simplify-tax-fi...

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Valued Social Butterfly
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Re: Tax Day Should Be Simpler

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Message 13 of 15

Compared to what I use to have to do (self-employed) - tax filing is E*A*S*Y for myself.

Now doing some of the LLC and LLP returns, which I do for others, is a bit more complicated but not bad unless they change a law or something different happens.  Good information goes in and a good tax return comes out.  I don't chance down their info; they have to supply it.

 

Guess I am not understand this proposal - the IRS has a Free File site directly to them and then there are many other tax online preparer that do certain ones for free.

 

I cannot believe more people, who can, don't use it. 

I really don't think that it is the complication of the form - but more the complication of taxes, especially if you have to file something out of the ordinary.

 

I think understanding your taxes goes a long way to understanding your finances and how you can save for your own benefit even by using the tax code.

 

Wonder how many people use this benefit?

IRS Savers Credit - Retirement Savings Contributions Credit

Free money for those who can.

 

I can see the benefit to match up tax forms with returns to keep down identity theft.

But the P.I.N. system seems to working - perhaps everybody should have a P.I.N.

 

 

 

 

 

 


* * * * It's Always Something . . . Roseanne Roseannadanna
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Re: Tax Day Should Be Simpler

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Message 14 of 15

Shaheen - Simpler Tax Filing Act

 

Source - https://www.congress.gov/bill/114th-congress/senate-bill/940/all-info

 

Warren - Simpler Tax Filing Act 

 

https://www.warren.senate.gov/files/documents/Tax_Filing_Simplification_Act_Fact_Sheet.pdf

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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Tax Day Should Be Simpler

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Message 15 of 15

 

Tax Day.png

 

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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