I finally found something I agree with, with Elizabeth Warren

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I finally found something I agree with, with Elizabeth Warren

Postby NewYork, New York » Wed Apr 13, 9:07 pm

Our income tax system Sucks. It is way too complicated and favors the rich over everyone else.
(Duh? The rich CREATED and MAINTAIN our tax system. Did you ever notice how rich so many of our Senators & Congress are?)


Elizabeth Warren Wants to Tear Up Your Tax Return
Money By Martha C. White

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Elizabeth Warren Wants to Tear Up Your Tax Return

Having to do your taxes stinks, and Elizabeth Warren feels your pain. On Wednesday the Massachusetts senator introduced the Tax Filing Simplification Act of 2016, which would put the onus for crunching the numbers and figuring how much you’ll get back or owe on the IRS. Many people wouldn’t have to deal with a tax return at all.

Lots of other countries currently have setups like this, and the idea of return-free filing has had bipartisan appeal in the past (Ronald Reagan talked about it back in 1985, Vox pointed out). But in her proposal, Warren said the tax preparation industry has blocked efforts to implement something similar in this country, just to protect their business interests. “Congress should be making it easier for Americans to file their taxes each year, not bowing to the interests of the tax prep industry,” she said.

Read next: Tax Procrastinators Get an Extra Weekend

The IRS currently offers a program called Free File, but it’s so convoluted, only 3% of taxpayers bother with it. Since the IRS already gets copies of all the tax forms, like W-2s and 1099s, that are mailed to taxpayers, Warren wants to make it the agency’s job to fill in the blanks on your return, then send it to you to make sure it’s right—basically the opposite of how it works now, where you have to do all of the legwork and hope you don’t forget or miscalculate something that’s going to get you audited.

“Such a system would save taxpayers time and money, and would result in more accurate tax returns,” Warren’s office said in a report about the hassle factor of filling out and filing tax documents. Return-free filing would cut down the average 13 hours American spend working on their taxes to just minutes, the report noted, and save filers the average $200 each spends on tax prep help.

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Re: I finally found something I agree with, with Elizabeth Warren

Postby modern roots » Wed Apr 13, 9:25 pm

Hooray!!! Get this done yesterday.

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Re: I finally found something I agree with, with Elizabeth Warren

Postby alpha » Thu Apr 14, 4:41 am

Martha C. White wrote:“Such a system would save taxpayers time and money, and would result in more accurate tax returns,” Warren’s office said in a report about the hassle factor of filling out and filing tax documents. Return-free filing would cut down the average 13 hours American spend working on their taxes to just minutes, the report noted, and save filers the average $200 each spends on tax prep help.


How is it amerikans spend an average thirteen hours doing their taxes AND pay an average two hundred dollars for somebody else to do them? Does it really take thirteen hours for them to fish the money from their pockets?

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Re: I finally found something I agree with, with Elizabeth Warren

Postby Old Fart » Thu Apr 14, 5:50 am

Who knew the "tax prep" industry had such pull.

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Re: I finally found something I agree with, with Elizabeth Warren

Postby Dazzler » Thu Apr 14, 5:58 am

Obviously you'll have to pay the IRS to calculate your returns, which will be paid for out of tax dollars but it should be cheaper than getting it done at a private accountant.

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Re: I finally found something I agree with, with Elizabeth Warren

Postby alpha » Thu Apr 14, 8:27 am

Dazzler wrote:Obviously you'll have to pay the IRS to calculate your returns, which will be paid for out of tax dollars but it should be cheaper than getting it done at a private accountant.


It should be cheaper indeed, but it will depend on whether mandatory waterboarding is included.

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Re: I finally found something I agree with, with Elizabeth Warren

Postby modern roots » Thu Apr 14, 3:12 pm

alpha wrote:
Dazzler wrote:Obviously you'll have to pay the IRS to calculate your returns, which will be paid for out of tax dollars but it should be cheaper than getting it done at a private accountant.


It should be cheaper indeed, but it will depend on whether mandatory waterboarding is included.

We'll save the waterboarding for Microsoft, apple, oil, gas and banks. So waterboarding is OK!!!


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