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Seems like the obvious answer is that the IRS should just require you to report those things yearly, then do the math themselves and tell you how much you owe.
by PhasmaFelis 8y ago
Seems like the obvious answer is that the IRS should just require you to report those things yearly, then do the math themselves and tell you how much you owe.
- jonathankoren 8y agoNot even that. Like many countries, they can simply send you a card with how much you owe with some very basic info (e.g. number of dependents and income), along with a URL to download the full pre-filled 1040-EZ. If you agree, you sign the card, mail it back. If you don’t agree, you can file your life wn taxes as usual. For instance, you had a kid, or got married, or don’t want to take the standard deduction. This is completely doable, and in fact is done in many advanced countries today. Even better, it fits in the the GOP rhetoric about wanting to make the same tax form “fit on a postcard” [0] [0] https://www.msn.com/en-us/news/other/everything-you-need-to-know-about-the-new-tax-form/ar-BBLCXol https://www.msn.com/en-us/news/other/everything-you-need-to-...
- concerned_user 8y agoIt is like this in my country, although the form is electronic and 5 pages of A4 paper (if it was printed) but rest is true. I log in to tax office web site, confirm my identity via bank or e-signature, review the form and submit for approval, correct if necessary. Usually takes 10 minutes.