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Do most Americans have to do their own taxes? It boggles my mind that this is the case.
by nly 5y ago
Do most Americans have to do their own taxes?
It boggles my mind that this is the case.
- neilwilson 5y agoThey do. The UK PAYE (Pay as You Earn) system has a 1% tax gap[1] compared to 12.9% on income tax and 7% on corporation tax. It's extraordinarily more efficient to tax at source. [1]The percentage tax gap is the tax gap pound value as a proportion of theoretical liability, where theoretical liability is defined as the tax gap plus the amount of tax actually received.