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this post was submitted on 30 May 2024
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Yeah, very limited, but it's very good for more than half of the population that don't have enough deductions to exceed the standard and don't own property (if you properly count houseless "households" that earn income as not owning property and not just renters like most statistics). It's dumb that they have to file a return anyway just to acres money that never should have been collected. Most just don't know how to properly file their W-4 to not have taxes withheld in the first place. Mostly because they follow the directions and/or are afraid of paying a fine plus interest.
Anyway, it's a step in the right direction. And if we can unbury all of the staff out of the pile of paper returns, we can devote some to go after the rich and their frivolous, often fraudulent deductions and have them pay the tax they owe.
How do you do this? How do you calculate what to personally withhold and pay? Is it simply calculating through the income tax?
There's a worksheet that usually comes with it where you answer questions about your living situation - single/married, homeowner/renter, how many kids, etc. - and it gives you a number to put in. It's pretty accurate. I've done it at every job and aside from years with tax credits I've never gotten back more than a few hundred bucks.
I've had 1099s and tax credits and I've never sent in a paper return. I keep the records in case of an audit but it's not like e-file hasn't existed forever.
But it hasn't always been free to file electronically. The government made it required for them to offer free versions for simple returns, but that was recent.
Also, access to the Internet isn't universal. You'd be surprised how much of the US doesn't have affordable Internet and a fair number don't have Internet available at all, or limited to just dialup which is not very useful. And a lot of apps don't work right on phone browsers, especially older phones, so then you need a desktop or laptop which a lot of people don't have. Some have access in libraries, but a lot don't or traveling to a library is a burden. And lots of other reasons that internet isn't a given for a large portion of households. So paper is still not just necessary, but the easiest way.