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expiredjohnny_miller | Staff posted Dec 27, 2023 08:14 AM
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expiredjohnny_miller | Staff posted Dec 27, 2023 08:14 AM
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Gotta love our corrupt system, causing people to spend millions of extra dollars and God knows how many man-hours filing tax returns that really have no reason to exist in this day and age.
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it would be 65 + 40 additional state + 20 state efile + 20 state efile
= 145$ before tax
Does that seem correct?
At worse case, you can manually enter the amount of your stock loss carry forward amount from last year's 1040.
What most people are asking for is the government to guess based on incomplete information which would need to be updated and corrected for a vast majority of people. Therefore, the taxpayer doesnt save that much time as they would still need to review every input that was complete and accurate.
What would actually end up happening is the government would end up sending out estimates and two things would happen. 1) Many people that do not want to spend the time with a program like TurboTax or the free ones would be ignorant of the deductions they should be receiving so they end up paying too much, or 2) many immigrants would overpay as because they would be too fearful challenging a government entity estimates.
I am a CPA in California and work with a lot of low-income earners and having the government assume what a person should pay would be a disaster.
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