Would You Let the I.R.S. Prepare Your Taxes? (2015)

Re:Would You Let the I.R.S. Prepare Your Taxes? (2015) by stephengillie on Monday August 13, 2018 @01:42PM (#17751982)

Doesn't the bank send the same tax documents to the IRS as they send to you? (Mortgage interest is a commonly itemized deduction.)

Itemized deductions could be a "dispute" item, where you would login, switch from Standard to Itemized, then itemize your deductions. It could possibly recall this setting, and even the deductions, from the previous year's input.

[ Parent | on HN ]

Re:Would You Let the I.R.S. Prepare Your Taxes? (2015) by icedchai on Monday August 13, 2018 @02:00PM (#17752148)

For some, yes. However, in some cases, no. For example, I have a sole proprietor with a lot of 'business expenses' (web hosting, software licenses, etc.) Those get deducted.

It would be nice to get this streamlined! taxes are such a chore.

Too bad there's a multi billion dollar industry - tax preparation and accounting - supported by taxes. It will never happen.

[ Parent | on HN ]

Re:Would You Let the I.R.S. Prepare Your Taxes? (2015) by scarface74 on Monday August 13, 2018 @02:05PM (#17752194)

It wouldn’t be meant to cover every case. But most people have simple taxes - they receive an income from a job and investments that are already reported and thier only deductions are charity, home mortgage, state taxes and dependent (or did that change this year?)

[ Parent | on HN ]

Re:Would You Let the I.R.S. Prepare Your Taxes? (2015) by sokoloff on Monday August 13, 2018 @02:17PM (#17752291)

Cost basis accounting/tracking for investments was only required for covered securities starting in 2010 to 2013, depending on the type of security involved.

[ Parent | on HN ]