4 ms·
Anyone running a small business (well over 10,000,000 people in the USA) will be deducting business expenses. It would be silly (nuts?) to fill out Schedule C
by mdakin 17y ago
Anyone running a small business (well over 10,000,000 people in the USA) will be deducting business expenses. It would be silly (nuts?) to fill out Schedule C but not deduct business expenses.
I suspect an even larger number of people currently itemize deductions. Medical expenses are one of about a million possible deduction types. And if you're keeping records you can often beat the standard deduction.
If you can't solve these two cases and can only solve the simplest cases what's the point really? People with such simple tax situations can do them in an hour or two anyway. The burden it would place on government and industry just does not seem justified.
The "complex" returns still need to be "amended", processed, audited, etc. The very cases which consume the most time and effort today would still be consuming the most time and effort with no savings given a piecemeal simple-case-only automation effort.