Many countries provide pre-filled tax return and you simply "sign" it and you are done in a few quick mins. For a super majority of folks, the IRS basically has all your information to provide a pre-filled tax return, so why do we not have a similar system as an <b> option </b> for taxpayer? I emphasis this as optional since many tax fillers have complicated returns and would want to not use the basic pre-filled option. But this is a good option for many, so why not provide it? Turns out, IRS want to provide such a system and there are Interest lobbying against it (surprise, surprise, Intuit - the maker of TurboTax - and it's allies). Here is an article on this topic and Intuit lobbying effort against it: http://www.propublica.org/article/how-the-maker-of-turbotax-fought-free-simple-tax-filing What said you?
Even before Turbo Tax it was two pages at the book depository, copying your W2 and a trip to stamp alley. Grade schoolers fill these out for math homework, I don't know that preventing otherwise is exactly Teapot Dome.
I stopped using Quicken 2 years ago for just this reason. What a joke. How can anyone say that with a good conscience? I hope Intuit burns to the ground.
What I would like to see are Word documents in place of the PDFs, or some kind of software that can connect different forms and compile all the information into my 1040. Buying and selling stocks over the years, I have learned that filling out a Schedule E with information from K-1 partnerships is no laughing matter.
We used to do it all on paper until just a couple of years ago when my wife's business taxes made the whole thing too burdensome. Then Turbotax found a new way to annoy me -- first they ask would I like to pay for their service out of my return (sure, why not?), then ask would I like for them to deposit into my bank (sure, why not/), then say there will be an exorbitant processing fee for doing so (wha? nevermind then, mail me a check you bastards), then say they can't take their pay out of our return unless they deposit into the bank (fine, here's my credit card then, jerks). They took what could have been a very convenient, customer-friendly filing experience and made me hate them with a bs processing fee.
amazing how people concerned about privacy happily hand over sensititve personal financial information to the government
What exactly are you referring to? And why is it amazing? One is voluntary, the other is not. Lots of people are OK with doing things they approve, while not allowing things without permission.
IRS don't need anything new. For the vast majority, they already have what they need to provide pre-filled tax form now. Gen Y doesn't care about privacy anyway, but that's a different topic.
'It is difficult to get a man to understand something, when his salary depends on his not understanding it.' --Upton Sinclair The IRS, companies like Intuit, and CPAs across the country benefit from a complicated tax system. So of course they're never going to support simplifying it.
I don't think IRS really care enough either way, but they had intended to provide this service which Intuit and their likes are lobbying against. Here are a few more on this topic. Sad that these religious leaders pushed something they don't know much about. http://consumerist.com/2014/04/14/i...leaders-in-push-against-pre-filled-tax-forms/ Intuit is lobbying to make permanent a 10 year deals with the IRS that has now expired to not provide pre-filled tax returns: http://consumerist.com/2013/04/15/l...nt-irs-from-providing-pre-filled-tax-returns/
I think it's safe to assume the IRS is happy with people overpaying their taxes, which probably happens more frequently the more complicated the filing process is. Just a hunch.
