The IRS could auto-fill nearly half of taxpayers returns, according to a new paper

Sharing is Caring!

— meaning they wouldn’t have to spend time and money filing their taxes

(Business Insider) Every year, millions of Americans sit down to puzzle out their taxes — or pay someone else to do it.

That’s not the case in many countries. The Atlantic reported that an average Estonian spends just about five minutes during their taxes. Meanwhile, some Swedish taxpayers simply get a text that shows their taxes — and they have to just reply “yes” to confirm and file.

Now, new research looks at what would happen if the IRS used pre-populated tax returns already filled out with information the agency has access to. The result: A whole lot of Americans could potentially have their tax forms accurately pre-filled and avoid the annual hassle of filling out the paperwork themselves.

See also  "Alaska Permanent Fund account that pays for state budget and dividends is under pressure" From 29% returns to 3% returns, with the legislature taking 5% for spending, what could go wrong?


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.