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1099-anything, by definition, doesn't come from an employer. They're for other sources of income (brokerage sales, interest, etc.). The US would need to vastly
by Uvix 3y ago
1099-anything, by definition, doesn't come from an employer. They're for other sources of income (brokerage sales, interest, etc.).
The US would need to vastly simply the tax code - remove all the various tax breaks for dependents/spouses, remove the progressive taxation scale, etc. - before it could be successfully automated.
- Analemma_ 3y agoI don't think this is true. For pretty much everyone except either small business owners or the very wealthy with exotic assets, the government already gets all the forms it needs to calculate all your taxes (employers send W-2s, brokerages already send 1099s, your bank sends your mortgage statement to calculate things like mortgage interest deductions, etc.). There's no reason it can't be automated for 9 out of 10 people.
- xtracto 3y agoI've got REITs. I've got pension investment. I've got a house I'm getting interest off of, I've got stock, both Mexican and US (TQQQ and chill!), and I work at a company earning enough to HAVE to go into the Mexican IRS portal do do my taxes "manually" (I.e. my employer cannot do it for me). With all of that, I just get into SAT page, ask it to fill up everything with the data they already collected, review it, and agree on the $$$ they will give me back (yay mortage!). It CAN be that simple. that's what systems are for: to automate complex processes. Computers excellent at it. All