I have been filing my own taxes via Turbo Tax for the last several years. It's free the first year and you pay in succeeding years if you opt to utilize your saved information from prior years. The Internal Revenue Service should enable their website to allow the public to electronically file income tax returns for free where no special services are desired.
The bureaucracy of paper returns should become obsolete. Online filing is more efficient and would save the government substantial resources (i.e. postage, paper, and storage costs). The prescribed site could be enabled to expedite returns for users for designated fees and without harming other tax service companies, which would continue providing services to those individuals who are disinterested in preparing their own returns and/or those who are interested in acquiring RALS (Refund Anticipation Loans). RALs would not be available via the IRS's online filing system. The IRS should additionally provide online and telephonic support for the prescribed site juxtapose posted tutorials that would explain every component of self-service online filing...
Students should be trained to electronically file their taxes via the IRS's website prior to graduating from high school, preferably via an economics course; they should additionally be taught via the prescribed course things like how to make certain that their employer is deducting enough taxes from their pay, especially if they do not have dependents. The stated training should be informally available at one's local IRS resource/computer lab. It could otherwise be available in public libraries and one's local Department of Labor (Representatives from the Internal Revenue Service could be dispatched to these localities on specified days each week or month and/or designated staff at these particular localities could be trained and certified to conduct this training).
Prior to having my children when I first started working, I was in for a shock when I went to file my taxes and was told that I owed over $1,000. When I asked why, I was told that it was because I claimed myself on my W-4 (single and one), which seemed logical to me. After this, and until I had my children, I started claiming single and zero to make certain that my employer was deducting enough taxes from my pay...
I additionally had my employer to deduct an extra amount (circa $20.00) from each of my pay checks until I paid out my tax debt. If you do not have dependents, having your employer to withhold extra money from your pay would guarantee that you'll get a return on accruing money that you couldn't touch until tax season each year. All workers should be capable of logging into their personal IRS account at any time to make either of the prescribed adjustments...
Students and the general public should additionally be taught how to file estimated quarterly taxes and a yearly return should they become entrepreneurs, and they too should be capable of doing this via the IRS's website. This is important because if you're not filing taxes if you're self-employed, you're not accruing Social Security credits, and when you reach retirement age, you won't be eligible for Social Security benefits unless you have worked at some point and/or have a qualifying disability; you must have 40 Social Security credits to acquire retirement benefits.
In implementing the prescribed, the IRS would readily collect millions of dollars that it currently does not from individuals who currently do not file taxes at all. Implementing an automated income tax filing system would secure the stated funds all the more. The IRS could otherwise automatically collect all taxes that it should from everyone's paycheck to be certain that no one is ever indebted to them. Banks could additionally be empowered to collect taxes for remission to the Internal Revenue Service on cashed checks from which taxes have not been deducted. Making printed currency and coins obsolete or making currency exclusively digital would best enable the IRS to automatically and incrementally collect all taxes that it is due from all persons, and tax reduction and forgiveness should additionally to automated for all qualifying persons.
Companies like Turbo Tax, etc. should exist primarily for the purpose of providing services like Refund Anticipation Loans, for which they can charge more than they charge for traditional services (Turbo Tax and likely other online and traditional tax prep companies are providing loans now, though I elect to wait). My thoughts...
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