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mortgages already send reports to IRS. System could be set where IRS send an estimate and tax payer either pays/agrees for refund, or send back updated one with
by hippich 13y ago
mortgages already send reports to IRS. System could be set where IRS send an estimate and tax payer either pays/agrees for refund, or send back updated one with deduction and supporting documentation for these deduction.
I own a house, do freelancing, investment done in retirement accounts, HSA accounts. Except business expenses, everything else was already reported to IRS either by bank, or employer or client on 1099-MISC. If there would be a form I could just sign and send back - I probably would skip expenses completely in this year.
And for majority of people I feel like there would be nothing to report what already is not reported.