Should the IRS File Your Taxes for You?
Imagine a world where you didn’t have to file your own taxes. Of course, you can use an experienced and professional tax and accounting firm like GROCO to do your taxes for you, but what if you didn’t even have to send your tax return information to an accountant? Could that ever really happen? In reality, probably not, but that isn’t stopping one U.S. senator from at least proposing the idea.
Democratic senator, Elizabeth Warren, from Massachusetts, has introduced the tax Filing Simplification Act of 2016. The senator hopes to “simplify and decrease the cost of the tax filing process for millions of American taxpayers.” Her proposal would actually force the IRS to come up with a preparation and filing service that all taxpayers could use for free to directly file their taxes with the government.
The service would require the IRS to fill in all the necessary information, which would come from W-2s and 1099s, which the agency already receives. Each taxpayer would then be responsible to make sure the information was correct. Some taxpayers that have very basic tax situations might not even have to file a return at all.
So what is the likelihood of this ever passing? Chances are the bill will not go anywhere, as Congress has always been reluctant to making these kinds of changes in the past. So while this might not ever become a reality, your tax accounting and tax preparation can still be stress-free. Just contact GROCO for help by clicking here or by calling 1-877-CPA-2006.
Top Cities for Food Lovers Around the World
If you’re a foodie, you’ll probably be interested in knowing the top cities for food lovers around the world. Especially those of you that like to travel; well, here are some suggestions. NEW ORLEANS, U.S. Looking for some Cajun and Creole dishes? New Orleans is the place to be. Come taste some fresh jambalaya or…
Which Leadership Traits Do People Want to Follow?
Which Leadership Traits Do People Want to Follow? By Alan Olsen Which Leadership Traits Do People Want to Follow? There are many aspects to being a great leader. And great leaders have many different qualities that make people want to follow them. Being humble, kind, honest, and emotionally intelligent are just a few of the…
How to Network
How to Network I often speak to groups about employees becoming entrepreneurs. Part of this transformation is increasing revenue by bringing in new clients. One question about finding new clients always comes up; “How do I network?” These employees sincerely want to network, they just don’t know how. In an attempt to give a worthwhile…
Basics of Forming a Corporation
Basics of Forming a Corporation If you have decided that the limited liability and the tax structure of a corporation are right for your business, the next step is actually forming the corporation. The law of the state in which you incorporate will dictate exactly what you need to do, but the steps are basically…