[Skynet]

https://www.vox.com/2016/3/29/11320386/turbotax-boycott-lobbying

I disagree with the author in the article. In my opinion it would be a major risk for Tax Payers especially when leaving it to the government to do your tax returns. The government has a tendency to lose things or not get the correct information and at times proven to be very Inept. Therefore preparing a return with either limited or missing information can be very costly.

There was a case once where a Tax Payer had given the IRS original documents. The IRS lost those documents and were basically not responsible for it, so in essence the Tax Payer got screwed.

[Missy]

As long as taxpayers have the option of reviewing it before filing it I don't see how it carries any more risk than having someone else prepare your return for you, in fact I'd feel SAFER having some computer populate it than half the people who prepare taxes for compensation.

When you think about it we're moving in that direction slowly, who would have ever thought you'd be able to download your w2 info straight from ADP?

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[hasy]

I concur. I don't think it's particularly sound for the gov't to do your taxes. They might not deduct anything for you or be able to get you to the least amount of liability. But also, I think people go to the status quo, such an H&R block among many others, because they trust a brand.

I think the author doesn't consider the ease of mind and convenience when people pay for Turbotax. You can go to your computer and complete your tax return instead of driving to a CPA's office to get your return completed.

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved - Helen Keller

-

BEC 80 (10/23/15)
FAR 72 (4/2/15); 83 (7/11/16)
REG 52 (4/28/15)
AUD (9/9/16)

Roger + NINJA MCQ + WTB

[taxgeek83]

https://www.forbes.com/sites/kellyphillipserb/2012/01/13/are-you-ready-for-government-prepared-tax-returns/#7afa0b3c7bc7

More than a few years old, but here's another take on it. I have to say, I'm a huge fan of the anti-fraud potential. For folks with straight-up W-2 returns and no other deductions aside from a personal exemption and standard deduction, it seems that the quicker the return is filed, the less chance of the taxpayer getting caught up in an identity theft mess. It also doesn't sound like the system would apply to anyone with a more complex return (investment issues, business/rental income/loss, etc.), which keeps my job security alive and well.

And mla's right – individuals can pull their W-2s from a lot of employers right offline now, and programs like TurboTax let you upload your income statements from various sources (by my understanding anyway). That's not much different than the IRS prepping your return for you using the same technology. And even if refunds were go to out before the taxpayer “checks the box” agreeing to the return, the refund is a lot less likely to be overstated (think: EITC abuse) because it's based on actual W-2 info submitted by employers. Get your return back and think it's wrong? You can always go back and just do it yourself.

[Author]

Replies