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Why are investments a problem? The IRS gets a copy of my capital gains at the end of the year. For probably 90% of people, the IRS has enough info to do their t
by Rebelgecko 4y ago
Why are investments a problem? The IRS gets a copy of my capital gains at the end of the year. For probably 90% of people, the IRS has enough info to do their taxes for them (as evinced by all the times where the IRS tells someone they were $2 off or whatever on their calculations).
- pfisch 4y agoEven if you are just a home owner that buys a high efficiency furnace the IRS doesn't have enough info to do your taxes properly.
- jedberg 4y agoSure they do. They would send you a bill, you'd say, "hey I bought a furnace", they would deduct from the bill and you'd pay the rest.
- Broken_Hippo 4y agoAnd in most countries, you'd just add that to the tax return information they send you. And if that furnace gets you discounts over years, you should only have to do that once - the next years, they'll have the information. Or alternatively: They can directly subsidize high efficiency furnaces, which would actually allow more people to have them than a tax credit will since it would lower the barrier to entry (price).