Thursday, April 16, 2015

Like The IRS To Bill You?

The New York Times is asking, Would You Let the I.R.S. Prepare Your Taxes?


Why not?
We already get itemized bills for our phones, cable, hospital bills and a whole host of others. I'm warm to the idea as long as it's optional and not compulsory.

The IRS has all the information already. All we're doing to re-entering what the IRS already knows. The only thing we have a say in is how we wish to take advantage of the available reductions. In my case, like the vast majority of us, I end up taking the standard deductions anyway. It always has beat out those when I try itemizing everything. As such it turns out a waste of my time and the $76.30 I spent this year with the tax preparation software I used. Besides, if I make a error it could cost me a penalty.

Maybe this won't work for businesses so well, but I believe for most Americans having the IRS billing us would work out just fine.

As for the paranoid who walk among us who don't trust the IRS I'd ask this. Who do you trust more with all yours financial details. Some third party accountant, an online service or the government which is going to scrutinize and go over the filings anyway with all the information they already are privy to?

So yeah I kinda like the idea. I'd like Pennsylvania to do this as well.

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