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This is a great idea, if implemented correctly. In the UK, most regular employees don't have to file a return because the correct amount is automatically withhe
by pmiller2 11y ago
This is a great idea, if implemented correctly. In the UK, most regular employees don't have to file a return because the correct amount is automatically withheld. I'd love to never get another tax refund again and offload the work of filing taxes to the government!
- ves 11y agoBut why via witholdings? I don't take witholdings and then just cut the appropriate check come April. They're basically a zero interest loan to the government.
- pmiller2 11y agoUnder the UK scheme, for an ordinary employee (basically the kind of person the cheap and free editions of TurboTax are designed for), you're simply paying your tax as you go. It's not really a zero interest loan to the government; it's just paying off what you owe one paycheck at a time.