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Tax Filing Simplification Act
Posted: Sat Apr 16, 2016 12:42 pm
by Bob78164
I just received an e-mail touting the Tax Filing Simplification Act. Even though all of the co-sponsors are Democratic, it seems like something that should receive bipartisan support. Here's the summary I've seen:
Senator Elizabeth Warren wrote:It prohibits the IRS from making agreements with the tax preparation industry to restrict its ability to provide free, online tax preparation or filing services.
It directs the IRS to develop a free, online tax and filing service directly with the federal government, instead of being forced to share your private information with a third-party.
It allows all taxpayers to download third-party-provided tax information that the IRS already has about you (like your W2 and 1099 income information) into a software program of your choice.
It creates a return-free option for those with simple tax situations, where the IRS would send qualified people pre-filled tax forms explaining how much you owe or how much you’ll be refunded, which taxpayers could then review, sign and file.
Let me encourage folks to look into this and, if you're so inclined, to contact your Representative and Senators and urge them to support the bill. --Bob
Re: Tax Filing Simplification Act
Posted: Sat Apr 16, 2016 12:50 pm
by Bob Juch
That sounds good to me. However it cost me nothing to file electronically this year using TurboTax.
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 12:07 pm
by mrkelley23
Bob Juch wrote:That sounds good to me. However it cost me nothing to file electronically this year using TurboTax.
Seriously? This sounds like one of those stereotype memes my conservative friends put on facebook to make fun of Bernie supporters.
Which version of TurboTax did you use? The $50 one?$70? $90?
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 12:15 pm
by Bob Juch
mrkelley23 wrote:Bob Juch wrote:That sounds good to me. However it cost me nothing to file electronically this year using TurboTax.
Seriously? This sounds like one of those stereotype memes my conservative friends put on facebook to make fun of Bernie supporters.
Which version of TurboTax did you use? The $50 one?$70? $90?
Online.
https://turbotax.intuit.com/personal-taxes/online/
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 1:40 pm
by Ritterskoop
I filed my 80-year-old roommate's taxes for free with TurboTax. Well, the federal was free. I think the state may have cost $20. But it may have been free also. I don't think I had to go there through an AARP link or anything but I can't remember (we file as soon as possible around Feb. 1).
Mine, on the other hand, cost about $70 for both. Used a UNC Charlotte employee link for a small discount. Vanguard offers a discount link also. It would have been less but as soon as TT said I had business expenses from publishing a book, everything changed. But I got back a wad from expenses, so it was worth it.
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 2:38 pm
by SpacemanSpiff
Ritterskoop wrote:I filed my 80-year-old roommate's taxes for free with TurboTax. Well, the federal was free. I think the state may have cost $20. But it may have been free also.
That's one of those things that burn my buscuits, even though I prepare taxes. If you don't make much, the Federal is free thanks to an IRS led initiative. States, though, are a different ballgame.
Virginia, for a couple of years, had a free online e-file system for everyone; Virginia's taxes are relatively simple. Then the lobbyists made some key donations and that disappeared. So, most folks have to pay even with the "free" Federal version.
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 3:34 pm
by themanintheseersuckersuit
The Federal Government has not demonstrated the ability to protect taxpayer information
http://www.gao.gov/assets/680/676097.pdf
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 5:52 pm
by Bob78164
That's true, but this is information they've already got anyway, such as the income reports from your W-2s. They even use it, in exactly this way, during the income-matching process. I just got a notice from the IRS that some of the figures I reported on my taxes don't match the reports they received. It would certainly be more efficient for everyone if they sent that information/notice
before taxes are due rather than after. --Bob
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 6:12 pm
by Bob Juch
I got two free years of credit monitoring for free due to the South Carolina Department of Revenue's hack.
Re: Tax Filing Simplification Act
Posted: Sun Apr 17, 2016 8:55 pm
by Ritterskoop
I think my dad got in on that also because he was working for someone based across the state line.
And because of this conversation, I've been seeing ads for TurboTax all night. Thanks everyone!
Re: Tax Filing Simplification Act
Posted: Mon Apr 18, 2016 5:39 am
by triviawayne
I file all my taxes for free with Zebra F-301. Been using that for years and never had a problem with being hacked, and it costs me less than $2
Re: Tax Filing Simplification Act
Posted: Mon Apr 18, 2016 9:36 am
by flockofseagulls104
Bob78164 wrote:I just received an e-mail touting the Tax Filing Simplification Act. Even though all of the co-sponsors are Democratic, it seems like something that should receive bipartisan support. Here's the summary I've seen:
Senator Elizabeth Warren wrote:It prohibits the IRS from making agreements with the tax preparation industry to restrict its ability to provide free, online tax preparation or filing services.
It directs the IRS to develop a free, online tax and filing service directly with the federal government, instead of being forced to share your private information with a third-party.
It allows all taxpayers to download third-party-provided tax information that the IRS already has about you (like your W2 and 1099 income information) into a software program of your choice.
It creates a return-free option for those with simple tax situations, where the IRS would send qualified people pre-filled tax forms explaining how much you owe or how much you’ll be refunded, which taxpayers could then review, sign and file.
Let me encourage folks to look into this and, if you're so inclined, to contact your Representative and Senators and urge them to support the bill. --Bob
Re: Tax Filing Simplification Act
Posted: Mon Apr 18, 2016 9:39 am
by flockofseagulls104
Bob78164 wrote:I just received an e-mail touting the Tax Filing Simplification Act. Even though all of the co-sponsors are Democratic, it seems like something that should receive bipartisan support. Here's the summary I've seen:
Senator Elizabeth Warren wrote:It prohibits the IRS from making agreements with the tax preparation industry to restrict its ability to provide free, online tax preparation or filing services.
It directs the IRS to develop a free, online tax and filing service directly with the federal government, instead of being forced to share your private information with a third-party.
It allows all taxpayers to download third-party-provided tax information that the IRS already has about you (like your W2 and 1099 income information) into a software program of your choice.
It creates a return-free option for those with simple tax situations, where the IRS would send qualified people pre-filled tax forms explaining how much you owe or how much you’ll be refunded, which taxpayers could then review, sign and file.
Let me encourage folks to look into this and, if you're so inclined, to contact your Representative and Senators and urge them to support the bill. --Bob
Let me encourage folks to contact your Representative and Senators to urge them to support the Fair Tax, or a consumption based tax, or even just a flat tax, and to get rid of the onerous, corrupt IRS altogether. That would be the TRUE Tax Filing Simplification Act.