this post was submitted on 15 Apr 2024
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There's a lot. Every tax form you get is submitted to the government as well. W2,1095 a, 1099, property taxes etc. For most people, the government could just send a letter saying: we have all the documents. Do you want to itemize or take a standard deduction? Do you have anything else to report? Cool. The people that would still have complicated taxes would be the self employed.
Yes, it would be helpful if people didn't have to chase down a bunch of forms that were submitted to the IRS already. But for instance in our family there's a lot of medical expenses, well over the minimum for us to deduct them, so we'd still want to do that.
Yeah itemized deductions would still need to be offered, but for many people the work would be minimal since it usually makes sense to select the standard deduction. That's horrible that you even have to pay that much for medical expenses but that's a whole other conversation lol.