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  • Americans want simpler taxes

    From Retrograde@21:1/5 to All on Sun Mar 17 09:18:23 2024
    From the «also lower» department:
    Feed: WSJ Markets
    Title: We All Want Simpler Taxes. Here's Why That's So Complicated.
    Date: Fri, 15 Mar 2024 05:30:00 -0400
    Link: https://www.wsj.com/articles/flat-tax-pros-and-cons-c06cc31e?mod=rss_markets_main

    The U.S. tax code is mind-boggling in its complexity, but the hurdles to simplifying it are surprisingly high.

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  • From JAB@21:1/5 to All on Sun Mar 17 06:51:35 2024
    On 17 Mar 2024 09:18:23 GMT, Retrograde <fungus@amongus.com.invalid>
    wrote:

    We All Want Simpler Taxes. Here's Why That's So Complicated.

    For most taxpayers, tax programs are available, if needed.

    For wealthy taxpayers using loopholes, a Tax Specialist is most likely required.

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  • From D@21:1/5 to JAB on Sun Mar 17 18:39:04 2024
    On Sun, 17 Mar 2024, JAB wrote:

    On 17 Mar 2024 09:18:23 GMT, Retrograde <fungus@amongus.com.invalid>
    wrote:

    We All Want Simpler Taxes. Here's Why That's So Complicated.

    For most taxpayers, tax programs are available, if needed.

    For wealthy taxpayers using loopholes, a Tax Specialist is most likely required.



    I heard that a company called turbotax is responsible for a lot of
    lobbying with the goal of keeping the tax code complicated. I don't know
    if it is a conspiracy theory, but I would not be surprised if it is true.

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  • From JAB@21:1/5 to nospam@example.net on Sun Mar 17 16:33:18 2024
    On Sun, 17 Mar 2024 18:39:04 +0100, D <nospam@example.net> wrote:


    I heard that a company called turbotax is responsible for a lot of
    lobbying with the goal of keeping the tax code complicated

    US's tax code has always been a maze for those using loopholes, before
    TT.

    For individuals not using credits or deductions, they could do their
    taxes but most don't.

    Apr 10, 2019
    "According to the IRS, nearly 90% of U.S. taxpayers pay a professional
    or use software to file." https://www.marketplace.org/2019/04/10/why-so-few-people-truly-diy-their-taxes/

    A recent GOBankingRates study revealed that roughly three-quarters of
    Americans plan to file their taxes on their own this year, either
    using do-it-yourself tax software or completely by themselves with no assistance. Nearly one-third (31.4%) are going it alone, while 44% are
    relying on programs provided by H&R Block or TurboTax.

    Nearly 22% use a certified public accountant (CPA) to help with their
    tax returns, while a small percentage (3%) rely on a tax lawyer.

    https://finance.yahoo.com/news/75-americans-plan-file-own-183553544.html

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