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.
Accountability in Four Easy Steps
Source: Partner Insights The following includes excerpts, reproduced with permission, from an article by Marty Stanley, president of Dynamic Dialog, Inc. Accountability hasn’t been considered the “next big idea” because it’s not “flashy.” There are no “bragging rights” about implementing an accountability process. After all, accountability means people would need to change, rather than a system or process…
Are There Any Tax Benefits Coming to the Middle Class?
Are There Any Tax Benefits Coming to the Middle Class? Now that the president and his administration have announced their plans for an overhaul to our nation’s tax system and code, most taxpayers are wondering how it will affect them. While there are many reports that the nation’s wealthiest will get even wealthier, thanks to…
Top Careers for Working Parents
Top Careers for Working Parents Let’s face it, being a parent is a tough job. Long hours, no holidays or vacation days, and the pay is anything but spectacular. Of course, parenting has some great rewards, and most parents wouldn’t trade those intangible benefits for anything. However, the reality is most parents struggle to figure…
Trump Administration Proposes Sweeping Tax Cuts
After months of promises, a brutally combative campaign and election, and the first 100 days in office, President Donald Trump and his administration have released their tax plan, which promises to include “the biggest tax cut” in the history of our country, according to Treasury Secretary Steven Mnuchin and National Economic Council Director, Gary…