Wednesday March 30, 2016

The 10-Second Tax Return

Thanks in large part to technology, we could easily have a "10 second tax return," but it will probably never happen. Why? Because, without major changes, our government simply isn't willing to do it.

In the United States, the third choice sounds like a fantasy. But the excruciating pain of tax season is just another example of negative American exceptionalism. In fact, about one-half of American taxpayers earn all their income from one employer’s wages (which the IRS can see) and interest from one bank (which the IRS can find out without much effort). The IRS could easily send tens of millions of individuals their nearly completed taxes by mailآ—or even, by text.