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How many pages of the supposed eight thousand plus pages of tax law apply to the majority of those who file taxes? The IRS certainly can tell me when I am wrong
by Shivetya 7y ago
How many pages of the supposed eight thousand plus pages of tax law apply to the majority of those who file taxes? The IRS certainly can tell me when I am wrong but they won't do it except when the result is in their favor; in my case I was improperly not filing HSA expenditures which would have resulted in me getting more back.
It comes down to this and I do not blame Turbo Tax or any other company in this area. The Federal and State Tax codes are weaponized by politicians and until that stops the system will be too complex for many to do the the filing on their own and some of that is because there is always that "did I forget something" feeling.
At least the changes made recently helped the lower and middle classes out a lot, that doubling of the personal deduction was a god send in reducing the work needed as many will never need to itemize again
- freddie_mercury 7y ago> The IRS certainly can tell me when I am wrong but they won't do it except when the result is in their favor Yes they will. I don't know why you bother to make up a lie so easily disproved. On September 9, 2019, I received a CP16 that stated "We believe there are miscalculations on your 2018 Form 1040, which affect the following areas of your return: - Tax Computation We made changes to your return that correct these errors. As a result, your overpayment is $21,886.35. Information was changed because of the following: We changed the amount of tax reported on your tax return because the tax rates on Qualified Dividends and Capital Gains are generally lower than the standard rates. It appears your tax was not computed using these rates or the amount of tax was computed incorrectly. (211D)"
- symlinkk 7y agoHoly shit talk about a humble brag. You overpaid by $21k? You must be balling.
- 0xffff2 7y agoAt a 15% rate, that's only 140k in capital gains. Significant, but hardly "balling" if it's a one-time event.
- symlinkk 7y agoWhat world do you live in where $140k in gains on an investment is not a huge amount of money?
- 0xffff2 7y agoSilicon Valley... Would it be nice to have an extra $140k? Yeah. Would it be life changing in any way? Not really. I still wouldn't even be able to afford to buy a house.
- Sohcahtoa82 7y agoUSA minimum wage is $7.25/hr which is only $15K/year if you work full time, and we've got people that will refer to 140K and prepend it with "only".
- JackRabbitSlim 7y agoI would sure as fuck would blame TurboTax, assuming you filed with them. Why else would you (be forced to) pay them if they can't perform their primary function of navigating overly complex tax law correctly?
- elihu 7y agoI've gotten refund checks that were bigger than I expected, along with a letter saying that their math says I was owed more than I thought I was.