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Originally Posted by Daseal
Found this article today, and it's pretty interesting. How TurboTax has been lobbying hard to keep from the automated type of tax filing many other countries see.
Personally, I'd love to see something like England where you get basically a tax code, everything comes directly out of the check. If you get overcharged, you can get it back, if you get undercharged, the gov't sucks it up.
How the maker of TurboTax fought free, simple tax filing | Ars Technica |
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It's already a reality in Denmark, Sweden, and Spain. The government-prepared return would estimate your taxes using information your employer and bank already send it. Advocates say tens of millions of taxpayers could use such a system each year, saving them a collective $2 billion and 225 million hours in prep costs and time, according to one estimate.
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Oddly, Denmark, Sweeden and Spain happen to have the 2nd, 3rd and 6th highest marginal tax rate in the world, respecitively. The UK comes in at the 8th highest. If it wasnt for socialist French president Francois Hollande and his 75% tax rate, you might even be able to move each country up a nouch. Perhaps making it easy for someone to take your money allows you to be complacent with them taking even more of it?
It would be nice if the tax code was so simple you didnt need Quicken, an accountant, or the Goverment to do it for you. Im sure Quicken was against Herman Cain's idea too.