Letter: Online taxpayer accounts a good first step
With properly enacted bills, IRS can get almost all data -- deductions and credits -- that go into a taxpayer’s 1040 filing.
In regard to “IRS plans online taxpayer accounts,” this is a good first step. The Internal Revenue Service gets and keeps a lot of earnings information about a taxpayer. Employers provide wage and deductions data, while other financial institutions give interest and dividend data. With properly enacted bills, IRS can get almost all data -- deductions and credits -- that go into a taxpayer’s 1040 filing. IRS can actually prepare a 1040 filing and a taxpayer can begin using it by adding additional information if it is not there. In the ideal scenario, all the data balance out. This process ensures that due taxes are paid by all the people and costs are reduced.
Anonymous
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