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A comment on FedNow FAQ. Parent comment

Re:FedNow FAQ by missedthecue on Thursday August 18, 2022 @04:04PM (#32514225)
But most Americans have at least a few deductions. How many Americans have offshore income? Especially the ones that would be relying on gov. tax prep?

In this case, it is mostly one sided

[ Parent | on HN ]
Re:FedNow FAQ by runako on Thursday August 18, 2022 @04:09PM (#32514281)
See: https://news.ycombinator.com/item?id=32513370

Roughly 90% of Americans file using the standard deduction ($13k for a single person, $26k for a married couple filing jointly). Median household income is ~$67k, so the median household is not itemizing.

The remaining 10% of people would not be bound to use the free public system.

[ Parent | on HN ]
Re:FedNow FAQ by missedthecue on Thursday August 18, 2022 @04:19PM (#32514388)
You can qualify for a number of deductions without itemizing.
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Re:FedNow FAQ by runako on Thursday August 18, 2022 @04:27PM (#32514461)
Correct, but in that case there is no impact to your taxes.
[ Parent | on HN ]