3 ms·

I'm pretty sure folks who earn over $400k can find accountants to do their grappling for them. Until "elementary students" can earn that much, it's not the pro

• chriskanan 3y ago
  Many people have an occasional year where they make very high incomes, for exam when selling a house or even fictional paper gains when exercising stock options as a startup employee. So, given that they aren't making huge salaries but just had a windfall (which may not even be real in the case of startup options), they may not have accountants or be well equipped for this situation. I had those issues a couple years ago with options, where the government says I had a huge income due to capital gains (on paper).
• _heimdall 3y ago
  The IRS spends a little under $15B per year. Solving problems for the rich doesn't have to be the only motivator, drastically simplifying our tax code would reduce the deficit and make it much easier to enforce our tax laws.