Thursday, April 14, 2016

Do You Want To Have The IRS Prepare Your Tax Return?

As if the IRS does not have enough responsibilities. On April 13, Senator Elizabeth Warren (D-MA) introduced the “Tax Filing Simplification Act of 2016,” which would require IRS to establish a free online tax preparation and filing service, i.e. the IRS would prepare the tax return for the taxpayer, as well as programs that would allow taxpayers to access third-party provided tax return information.

Those who could elect to have their income tax returns prepared by IRS would be single individuals (not surviving spouses or heads of households) who do not claim and deductions for adjusted gross income, claim the standard deduction, does not file a schedule C and has no income except for wages, interest, and dividends.

The cosponsors of the bill include Senators Bernie Sanders (I-VT), Sheldon Whitehouse (D-RI), Tom Udall (D-NM), Jeanne Shaheen (D-NH), Al Franklen (D-MN), Tammy Baldwin (D-WI), and Edward J. Markey (D-MA).


No comments:

Post a Comment